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terminate (verb) end.
To terminate is to end an arrangement/a contract/someone's services. When someone's job is terminated, they no longer continue in the job. At the end of the period of contract, the contract is terminated if the contract is not continued for another period.
- The company terminated his services because they found him inefficient, and he was not showing good results. They told him they no longer want him to continue in the job.
- The termination of the contract was welcome to both the parties. The end of the contract was what both the parties were waiting for, as neither found it profitable.