I think it's a Weigela. Here's the description from wikipedia:
The leaves are 5–15 cm long, ovate-oblong with an acuminate tip, and with a serrated margin. The flowers are 2–4 cm long, with a five-lobed white, pink, or red (rarely yellow) corolla, produced in small corymbs of several together in early summer. The fruit is a dry capsule containing numerous small winged seeds.
This wants to be a large arching shrub. I don't think keeping it as a low shrub will work well. If you don't have room for a large shrub there, consider (re)moving it. Otherwise, you want it to grow with a natural habit, so heading back a lot isn't a good idea. You can start in spring right before bud break. Cut out a few of the thickest, clubbiest stems at the base, and remove any rubbing or dead branches. When cutting a branch, cut back to the base, or a branchlet. Do not leave a stub.
You want it to grow up and out from the base, like a fountain. Cut any growth that grows back into the center. You'll probably end up having to prune this each spring for a few years, to get it back into shape.