It sucks to be fired. It also sucks to be the one doing the firing. (Yes, it sucks more to be the one getting fired.)
In any event, thanks to Yahoo's layoff consultants, we now have a step-by-step guide. Valleywag published most of the slide show here. It's worth reading the whole thing, but here's the most important part: What to say.
We wish the consultants hadn't included such treacly corporate-speak in the title ("suggested messaging"), because there is some useful information here. (Most importantly, be direct. Don't treat employee like a three-year old. Don't be patronizing. etc.)
Bear in mind that these instructions concern wholesale bloodlettings, not the termination of individuals who just aren't cutting it. There is presumably another slide show for those.
Any HR folks want to weigh in? Is this S.O.P.? Should employers use different "messaging"?