Rescind (verb)

1. To cancel or revoke (an agreement, decision, or action).
2. To make void or invalid.

Origin:

From the latin word "rescindere" meaning "to annul" or "to repeal".

Examples:

1. The company rescinded the layoff notice due to an unexpected increase in profits.
2. The government announced its decision to rescind the policy.
3. The company rescinded the contract due to a breach of terms.
4. The school board voted to rescind the controversial dress code policy.
5. The company was forced to rescind its merger due to regulatory issues.