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Both manager and HR should terminate and in some serious cases, after the two might have decided to, GM needs to approve.
The decision to terminate should be taken in consultation with the HR Head.
Both Line Manager and HR should be present while conveying the news to the employee.
The Front line Manager who has managed the employee concerened and who knows the issue should along with HR take the decision of termination in line with applicable labour laws of the country and HR Policies of the Organization.
YES HR Manager, Representative from HR and preferably legal representative
Manager, Representative from HR and preferably legal representative if the nature of position leads to legal dispute.