And what about what’s best for the person being fired? Or are they just a cog in the machine, unworthy of empathy or decent treatment?
In order of importance a manager should put the company first, then team, then individual employees, then themselves. Poor performers hurt everyone on that list.
Most of the time the under-performer will be happier after any of these scenarios than they would knowing they're under-performing in their current role. It just takes a bit of time and maturity to realize.