dismission

from WordNet (r) 3.0 (2006)

dismission
    n 1: official notice that you have been fired from your job
         [syn: {dismissal}, {dismission}, {pink slip}]
    2: the termination of someone's employment (leaving them free to
       depart) [syn: {dismissal}, {dismission}, {discharge},
       {firing}, {liberation}, {release}, {sack}, {sacking}]

from The Collaborative International Dictionary of English v.0.48

Dismission \Dis*mis"sion\, n. [Cf. L. dimissio.]
   1. The act dismissing or sending away; permission to leave;
      leave to depart; dismissal; as, the dismission of the
      grand jury.
      [1913 Webster]

   2. Removal from office or employment; discharge, either with
      honor or with disgrace.
      [1913 Webster]

   3. Rejection; a setting aside as trivial, invalid, or
      unworthy of consideration.
      [1913 Webster]