Pink Slip

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A popular term for a note from an employer to an employee, indicating that the latter has been terminated
References in periodicals archive ?
In today's economy, with intense global competition, many corporations are laying off workers, downsizing and issuing pinkslips. The prevailing management thinking appears to focus on the layoff and ignore the survivors throughout the entire downsizing process.
It rose right after Disney recently handed out more than 300 pinkslips at LucasArts, Lucasfilm and across Walt Disney Studios.
And even amid tough economic times that resulted in 750 pinkslips and job eliminations over the past two years--events unforeseen when the project was launched--the studio still says obtaining the LEED distinction was worth the trouble.