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Pink Slip
1) Slang for notice from an employer that one is being fired or laid off. 2) Slang for the official title certificate to a vehicle, because in some states the document is or was pink. This is the source of the phrase "racing for pinks," when the winner of a car race wins ownership of the loser's car.
LA-NOLO3:LDR.1.5.0.20140409.25642