Article: If it's possible to give your friend another chance, creating a concrete time frame for them to improve performance by coaching or training them toward a specific set of goals. Schedule weekly meetings to discuss improvement. Make it clear that your friend's job will be terminated if the new set of goals is not met in the time discussed. If it doesn't happen, go through with the termination knowing that you gave them as much of a chance as possible. Document your discussion and keep this report with your employee records. You may need to deal with objections by referring to the documentation of your previous conversations, so keep good records. If it's in your power, you might consider reorganizing your friend's job to essentially demote your friend, or give them an opportunity to save face by quitting. You'll need to have a similar conversation, letting them know that their performance isn't up to par, but that you value their friendship and wanted to offer them this opportunity in a job with fewer responsibilities. Organize the position such that your friend's weaknesses might be lessened by the new position, making it a win-win. Your friend either gets to leave the company for greener pastures, or stay on in a position in which there is an opportunity for success. Alternatively, consider a promotion or a transfer. While this might be considered "passing the buck," if you can get rid of your friend without firing them outright, you can avoid the ugly confrontation. If you can get your friend a new job with a similar company, you'll have solved both your problems. It may be that there is too much conflict of interest involved in your firing your friend. In this case, talk to either a supervisor, subordinate, or the HR department at your company to plan for another course of action.

What is a summary?
Lay out a plan for improved performance. Change your friend's job title or job description. Let someone else do it.