'Dismission' definitions:

Definition of 'dismission'

noun

Official notice that you have been fired from your job [syn: dismissal, dismission, pink slip]

noun

The termination of someone's employment (leaving them free to depart) [syn: dismissal, dismission, discharge, firing, liberation, release, sack, sacking]

From: GCIDE

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]