The phenomenon you're describing is commonly referred to as land subsidence. This occurs when there is a significant withdrawal of groundwater from an aquifer, leading to a reduction in the pressure that supports the soil and rock layers above it. As water is removed, the porous spaces in the aquifer can collapse, causing the ground surface to sink.
Land subsidence can have various consequences, including damage to buildings and infrastructure, increased flood risk, and changes to the landscape. It is particularly prevalent in areas where groundwater extraction is extensive, such as agricultural regions or cities heavily reliant on groundwater for their water supply.
In summary, when a large amount of water is removed from an aquifer, it can lead to land subsidence as the ground above sinks.