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We found 2 dictionaries that define the word rank and yank:

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  1. rank and yank: Wiktionary
  2. Rank and yank: Wikipedia, the Free Encyclopedia

Definitions from Wiktionary (rank and yank)

noun:  (informal, business) A model of employee productivity in which workers are ranked into the top 20 percent, the adequate 70 percent, and the bottom 10 percent, and those in the bottom group are fired.

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