Unix shell script to truncate a large file

Just to add another answer,

: > filename

: is a no-op in bash (POSIX-compliant), so this essentially just opens the file for writing (which of course truncates the file) and then immediately closes it.

EDIT: as shellter commented, you don’t actually need a command to go along with the redirection:

$ echo foo > foo.txt
$ cat foo.txt
foo
$ > foo.txt
$ cat foo.txt
$

A simple redirection all by itself will clear the file.