The phrase "get the axe" refers to-

Correct answer: to lose the job.

• Get the axe (idiom)
- English Meaning: To lose your job.
- Bangla Meaning: (কথ্য) চাকরি থেকে বরখাস্ত হওয়া।

• Example Sentence:
- This time, it's the business managers, executives, and technical staff who are getting the axe.
- After the company merger, several employees got the axe.

Source:
1. Accessible Dictionary by Bangla Academy.
2. Collins Dictionary.