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pink slip noun
plural slips
[count] chiefly US, informal : a notice that is given to a worker by an employer saying that the worker's job is ending
Thousands of factory workers have been given the pink slip [=have been laid off; have lost their jobs] in recent months. = Thousands of workers have gotten the pink slip.
— pink–slip verb, pink–slips; pink–slipped; pink–slip·ping [+ obj] usually used as (be/get) pink-slipped Thousands of factory workers have been/gotten pink-slipped in recent months.

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