I have some good news—we're letting you go.
A play on the words "letting you go" -- normally, if your boss was to "let you go" it would be bad news, because they would be firing you. In this context, "letting you go" means removing you from your straight jacket, which would be good news. Because the boss also has a straitjackets, the employee might be getting fired from this company where everyone wears straitjackets, but that would still be good news because this is a terrible workplace.