pink slip vs dismissal

pink slip and dismissal both are nouns.

Word	Noun	Adjective	Verb	Adverb
pink slip	Yes	No	No	No
dismissal	Yes	No	No	No

As nouns, pink slip and dismissal are synonyms defined as:

pink slip and dismissal: official notice that you have been fired from your job

Other synonyms of pink slip include dismission.

pink slip (noun)	dismissal (noun)
official notice that you have been fired from your job	the termination of someone's employment (leaving them free to depart)
	a judgment disposing of the matter without a trial
	official notice that you have been fired from your job
	permission to go; the sending away of someone