The Collaborative International Dictionary of English v.0.48:

Dismissal \Dis*miss"al\, n.
   Dismission; discharge.
   [1913 Webster]

         Officeholders were commanded faithfully to enforce it,
         upon pain of immediate dismissal.        --Motley.
   [1913 Webster]

WordNet (r) 3.0 (2006):

dismissal
    n 1: a judgment disposing of the matter without a trial [syn:
         judgment of dismissal, judgement of dismissal,
         dismissal]
    2: official notice that you have been fired from your job [syn:
       dismissal, dismission, pink slip]
    3: permission to go; the sending away of someone
    4: the termination of someone's employment (leaving them free to
       depart) [syn: dismissal, dismission, discharge,
       firing, liberation, release, sack, sacking]