dehire

American Heritage® Dictionary of the English Language, Fourth Edition

1. v. Slang To lay off or otherwise terminate (an employee): "[When] top executives . . . are dehired, headhunters get nervous. It's not the way they like to see new business develop” ( Forbes).

Wiktionary

1. v. transitive, euphemistic To terminate the employment of.
2. v. transitive, UK, India To terminate use under a lease of.