Dear Vaths
Greetings!
Pink slip refers to the American practice, by a personnel department, of including a discharge notice (printed on pink paper) in an employee's pay envelope to notify the worker of his or her termination of employment or layoff. The term dates from 1915; originally the color of the paper had no particular significance. In the UK and Ireland the equivalent of a pink slip is a P45, in Belgium the equivalent is known as a C4.
The term also refers to a race in which the winner receives the loser's vehicle, as vehicle titles used to be printed on pink paper.
Rgds,
John N