pink slip

noun
notice of dismissal from one's job.

Origin:
1910–15

Dictionary.com Unabridged

pink-slip

[pingk-slip]
verb (used with object), pink-slipped, pink-slipping.
to dismiss from a job: He will be pink-slipped next month.

Origin:
1950–55

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To pink slip
Collins
World English Dictionary
pink slip
 
n
informal (US) a notice of redundancy issued to an employee

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
The writers do have an ideology to support, else they get the pink slip.
Receiving a pink slip may not be as bad as you think.
My family lived one pink slip, one bad diagnosis away from falling off the
  economic cliff.
So these days, being fired often involves more than finding the dreaded pink
  slip in your pay envelope.
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