The paper explores transactional dismissal (TD), an illegal but common way of dismissing people in France. TD is often used as a means of making redundant senior managers when mergers, outsourcing or restructuring occurs. The paper first describes the procedure from several inputs (juridical, managerial, psychological, social). It further analyses the discourses of concerned actors (employees, employers, remaining employees, union representatives, lawyers) and interprets how the practice is appropriated and legitimized by the parties. Actors display an ambivalent discourse about TD. They acknowledge TD from a managerial perspective and consider it as an injustice with distressing psychological consequences. This ambiguity is interpreted as ...