That woman has a piece of jewellery for cutting (8)
I believe the answer is:
shearing
'cutting' is the definition.
(shearing is a kind of cutting)
'that woman has a piece of jewellery' is the wordplay.
'that woman' becomes 'shea' (**).
'has' means one lot of letters go next to another.
'a piece of jewellery' becomes 'ring' (I've seen this before).
'shea'+'ring'='SHEARING'
'for' is the link.
(Other definitions for shearing that I've seen before include "Removing wool from sheep" , "Breaking off due to strain" , "George - - (jazz pianist)" , "George, the blind pianist" , "Removing sheep's wool" .)