plutoed - To be unceremoniously relegated to a much lower position without 
adequate reason or explanation.

Example:
Company CEO Greg walked into office on Monday morning only to cruelly learn 
that he had been plutoed by the Board to Head of Office Administration.

Submitted by:
Cecil Pinto

Accepted on :
28th August 2006

Source:
http://www.pseudodictionary.com/word.php?id=24581

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