How Do I Handle Asking Employees to Resign During a Cost-Cutting Drive?

Dear Seniors,

Please help me out of this situation. My MD & Jt. MD have decided to initiate a "cost-cutting drive". They have identified a few who need to make their way out of the office, and I am tasked with executing this drive. I am required to speak to those chosen individuals and ask them to submit their resignations. This is the first time for me, and I am completely clueless about what I should say to ensure the process is as peaceful as possible.

Please guide me.

Thank you.

Just be honest. Communicate with them what the management wants and your role in it. Be polite, show sympathy, and offer your help if you can.