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Noun: the chop
Usage: Brit, informal
  1. The termination of someone's employment (leaving them free to depart)
    "After the company's restructuring, many employees got the chop";
    - dismissal, dismission [rare], discharge, firing, release, sack, sacking, severance, heave-ho [informal], the axe [informal], the boot [informal], chuck [Brit, informal], termination [N. Amer]

Type of: conclusion, ending, termination

Encyclopedia: The chop