despedir
dismiss
des-
negation or reversal
+
pedir
to ask
Despedir means to dismiss and can be thought of as des-0 (negation or reversal0) + pedir1 (to ask1), implying a reversal of asking someone to stay.
verb
  1. dismiss
    To dismiss or fire someone from a job
    La empresa tuvo que despedir a varios empleados debido a la crisis. // The company had to dismiss several employees due to the crisis.
  2. say goodbye
    To say goodbye or bid farewell
    Se despidió de sus amigos antes de irse. // He said goodbye to his friends before leaving.