Terminating someone we hired for exceptional skills but no longer required?

I worked with IT company, We hired one candidate with hot skills.
But now we are not using that skill n project is transferred to JAVA technology.
Now that employee is not use full for us. So should we terminate him.
we try to use him for java but he have not worked on Java much.
& his package is high.& it has been a only week he has joined us
please let us know what should we do?
What point should be mention in termination letter.
Thanks & Regards
Archana

Dear madam Archana,
In my view it would be unethical to think of terminating a professional whom you hired because he possessed special skills which you utilized. Remember his skill may now be not useful but his ability is not.He is retrainable and you have obligation to provide him an opportunity.Please don't treat professionals in such a flippant manner and jump to hasty conclusion of termination without taking some positive step.
Regards
V.L.Nagarkar
HR-CONSULTANT

On what grounds will you terminate him ?
Normal labour laws apply to you
I do not know the size of your Comoany or its reputation, but such news spreads fast.
Employee can very well file a case for compensation against you because he left another well paying job for you.

Thank you for your reply.
I know it will be unethical to terminate him.
But we are an 3.5 yrs old company, & giving him 45K is costly for us.
we have urgent project which we have to deliver till end of this month & he is coming on time & going on time where as all other employees are working.
What should we do ?

Buy his resignation through Golden Hand Shake, it is a good option as there is no fault of the employee. Discuss with employee give him reasonable time to find a job.