[filosofo]

Trying to get my head around this. What does "keeping one's job" even mean? isn't there still a mutual contract, and both parties can break out of it? So the boss can act on behalf of the company, and you can't. But presumably you can still quit the job on your own decision. Does that make the boss your subordinate?

No, but I suppose it might imply that you could be your own subordinate. Since the boss can fire you, but you can't fire your boss, you have a subordinate relationship.