Used only in 鱿鱼 ('squid'). The slang 炒鱿鱼 literally 'stir-fry squid' means 'to fire someone' or 'to get sacked', because squid curls up when fried, like rolling up your bedding to leave a job.
The fish radical on the left marks this as a sea creature; like many seafood words, the squid is written with the fish radical even though it is not a true fish.