A: What happened to Marco? I haven't seen him all week.

B: Oh, man! You didn't hear?! Marco got canned last Friday. I thought you had heard it through the grapevine.

A: Marco got the ax? I can't believe it! Gees, he's the only one in accounting that I really like.

B: Yeah, he was a friendly guy. Perhaps, he was a little too friendly. They said that he wasted too much time socializing at the water cooler.

A: They said? Who exactly is they?

B: Well, I heard and this is strictly on the QT. That the new efficiency expert that was sent out by management is all to blame.

A: I guess this is a warning to all of us.

Oh, man! ? doesn't mean anything at all
Got canned - got fired
Trough the grapevine - old expression that refers to the rumors
Got the ax - his job was killed
Geez - He's really surprised! Wow! She can't believe it
Water cooler - they are not working
Socializing - talking or hanging out with people
Every off has place where you get some water and don't work
This is strictly on qt - between you and me (Short for quiet)