In the US, that's done -- firing on the spot. In the Phils.., if you are on Probationary Employment or a daily worker -- puede rin. Otherwise, you are entitled to 1 month advance notice or security of tenure.
You just cannot fire people who are regular employees. Kaya madalas, management makes the atmosphere untenable -- the employee resigns. Yung iba, kulang na lang, ipaok desk ng employee sa cr -- pag refuses to resign ( after clipping the powers of the employee - so loses face at the work place).
How do you console -- keep him company, but do not nag him to talk about it. And, help him get leads as to where he can apply for a job.