To get your walking papers means to be fired from your job. Literally, you are being told to walk out.
1. Arun started looking for a new job as soon as he realized that the recession would affect the company's business and he would likely get his walking papers.
2. The secretary felt nervous when she was summoned to the boss' cabin as she was afraid she would receive her walking papers due to her mistake in planning the schedule for the meeting.
3. Peter was shocked when the HR Manager gave him his walking papers without any reason.