Pink Slip

A Pink Slip is an informal term for a notice of termination, historically a pink-colored document, indicating an employee’s job has been ended by the employer.

1. What is a pink slip?
   Answer: It is an informal term for a termination notice.
   
2. What does it include?
   Answer: It includes the termination date, reason, and final pay details.
   
3. Is it legally required?
   Answer: It is not required but often used to document dismissal.
   
4. What are the implications?
   Answer: It affects unemployment eligibility and morale.
   
5. How does HR manage it?
   Answer: HR issues it and coordinates with payroll.