How to reduce the number of TIME WAIT sockets?

Issue

• How do I reduce the number of TIME WAIT sockets?

• A large number of TIME WAIT sockets are existing on the servers. How can they be reduced?
  -The netstat or netstat -an command shows many thousands of connections in TIME_WAIT state, such as below:

  tcp        0      0 ::ffff:10.0.0.1:53261  ::ffff:10.0.0.6:50000  TIME_WAIT
  tcp        0      0 ::ffff:10.0.0.1:52216  ::ffff:10.0.0.6:50000  TIME_WAIT
  tcp        0      0 ::ffff:10.0.0.1:51684  ::ffff:10.0.0.6:50000  TIME_WAIT
  tcp        0      0 ::ffff:10.0.0.1:50044  ::ffff:10.0.0.6:50000  TIME_WAIT
  .......
  

• High TIME WAITs while running http, SQL, database, OSE, or any other TCP load tests