This expression originated in Cantonese. When squid is stir-fried, it curls up like a rolled blanket. In the old days, workers brought their own bedding; being told to 'roll up your blanket' meant you were dismissed. So 'stir-fry squid' = getting fired.
usage
被炒鱿鱼 = to be fired (passive). 炒老板的鱿鱼 = to quit (you 'fire' the boss). The expression is informal and widely used in both mainland China and Taiwan.
