Just the british term for being laid off/fired.

Some jurisdictions have strong(ish) labour protections in law so just getting "fired" is not a thing.

The loophole that gets exploited to 'fire' someone is to make their position 'redundant' (i.e. unnecessary) then that person is no longer required and loses their job (there is probably a contract clause that specifies a payout of some kind too).

E.g. "The position of cow detangler is no longer required" --> you're fired.