There will be huge societal pressure on the cancelled (jobless, ostracised) person to choose death. It would be rationalised as a purely personal choice, while it is anything but.
Cancelling a well respected yet ageing professor in academia would open career opportunities for his younger peers, - a major problem with persistent growth expectations within decaying managerial society is solved on spot.
If that cancelled person kills himself (rarely -herself), this would be seen as an admission of sin and justification for the cancellation.
Searching through someone's shameful past (and rarely anyone's past is free of shame, especially now, when today's shame is created out of what was well accepted yesterday) would become a lucrative profession. Past detectives may be hired by competitors and bitter spouses.
Fringe benefits such as inheritance theft and personal revenge are just icing on the cake.
Sure, we have an epidemic rate of male suicide already, but it is nothing, compared to what it could become.