It's the sort of thing that we all say all the time. There's no obvious grammatical error that jumps out at you, and it's very clear what it means. In conversation, this would be fine.
However, you are right to be dubious about it. We shouldn't really have two gerunds referring to different subjects : the 'being' refers to the employee, while the 'dismissing' refers to the management. Your alternatives are preferable.