This depends on how far along you are and also how stable both you and the baby are.
Placental abruption occurs in approximately 1 in 150 pregnancies. This is when the placenta prematurely separates from the walls of the uterus, and it can be a life-threatening emergency. Women with small abruptions who are stable and are very preterm may be managed expectantly. That is, they will not be delivered and will be closely watched instead. This may be done with the woman either at home or in the hospital, depending on the individual situation.
However, if the bleeding is severe or the mother or baby appears in distress, delivery will usually be recommended. A vaginal delivery is not out of the question, but a C-section may be needed depending on the circumstances, and sometimes this is done emergently. A blood transfusion may also be needed if a lot of blood was lost.