The Collaborative International Dictionary of English v.0.48:

Shearing \Shear"ing\, n.
   1. The act or operation of clipping with shears or a shearing
      machine, as the wool from sheep, or the nap from cloth.
      [1913 Webster]

   2. The product of the act or operation of clipping with
      shears or a shearing machine; as, the whole shearing of a
      flock; the shearings from cloth.
      [1913 Webster]

   3. Same as Shearling. --Youatt.
      [1913 Webster]

   4. The act or operation of reaping. [Scot.]
      [1913 Webster]

   5. The act or operation of dividing with shears; as, the
      shearing of metal plates.
      [1913 Webster]

   6. The process of preparing shear steel; tilting.
      [1913 Webster]

   7. (Mining) The process of making a vertical side cutting in
      working into a face of coal.
      [1913 Webster]

   Shearing machine.
      (a) A machine with blades, or rotary disks, for dividing
          plates or bars of metal.
      (b) A machine for shearing cloth.
          [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Shear \Shear\ (sh[=e]r), v. t. [imp. Shearedor Shore;p. p.
   Sheared or Shorn; p. pr. & vb. n. Shearing.] [OE.
   sheren, scheren, to shear, cut, shave, AS. sceran, scieran,
   scyran; akin to D. & G. scheren, Icel. skera, Dan. ski?re,
   Gr. ???. Cf. Jeer, Score, Shard, Share, Sheer to
   turn aside.]
   1. To cut, clip, or sever anything from with shears or a like
      instrument; as, to shear sheep; to shear cloth.
      [1913 Webster]

   Note: It is especially applied to the cutting of wool from
         sheep or their skins, and the nap from cloth.
         [1913 Webster]

   2. To separate or sever with shears or a similar instrument;
      to cut off; to clip (something) from a surface; as, to
      shear a fleece.
      [1913 Webster]

            Before the golden tresses . . . were shorn away.
                                                  --Shak.
      [1913 Webster]

   3. To reap, as grain. [Scot.] --Jamieson.
      [1913 Webster]

   4. Fig.: To deprive of property; to fleece.
      [1913 Webster]

   5. (Mech.) To produce a change of shape in by a shear. See
      Shear, n., 4.
      [1913 Webster]

WordNet (r) 3.0 (2006):

shearing
    n 1: removing by cutting off or clipping