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hired
Refers to a person who has been given a job and is now employed by a company or organization.
Die neu eingestellte Mitarbeiterin beginnt am ersten des Monats.
The newly hired employee starts on the first of the month.
'Eingestellt' is the past participle of the separable verb 'einstellen'. The many meanings of the adjective derive directly from the meanings of this verb, e.g. 'jemanden einstellen' (to hire someone) or 'ein Gerät einstellen' (to adjust/set a device).
Der Chef hat gestern zwei neue Leute eingestellt.
The boss hired two new people yesterday.
Pay attention to the subject to recognize the meaning. If 'eingestellt' refers to a person, it is usually about employment or an attitude. If it refers to a device, it is about adjustment. If it refers to an activity, it is about its termination.
Der neue Kollege ist sehr kompetent. (Anstellung)
The new colleague is very competent. (employment)
In the meaning 'ended', 'eingestellt' is often used for services, productions, or proceedings. Typical nouns are 'der Betrieb' (operation/service), 'die Produktion' (production), 'die Ermittlungen' (investigations), or 'die Zahlungen' (payments).
Die Zeitung hat ihr Erscheinen nach 100 Jahren eingestellt.
The newspaper ceased publication after 100 years.
You can always recognize the meaning 'to be mentally prepared' by the fixed preposition 'auf' followed by the accusative. The structure is: 'auf etwas eingestellt sein' (to be prepared for something).
Ich bin auf einen langen Arbeitstag eingestellt.
I am prepared for a long workday.
When 'eingestellt' describes a personal attitude, it is almost always preceded by an adverb. Typical combinations are 'positiv eingestellt' (positively disposed), 'negativ eingestellt' (negatively disposed), 'optimistisch eingestellt' (optimistically disposed), or 'kritisch eingestellt' (critical/skeptical).
Sie ist eine sehr optimistisch eingestellte Person.
She is a very optimistically disposed person.
to dismiss / discharge
'entlassen' and 'eingestellt' can both have to do with a job. In this context, they are opposites: someone who is 'eingestellt' has been hired and now works there. Someone who is 'entlassen' loses that job because the employment relationship is ended. The words can be confused because both are often used in news reports or in the office when talking about personnel. The important point is: 'eingestellt' describes the beginning of employment, while 'entlassen' describes the end.
Meine Schwester ist seit Montag in einer kleinen Arztpraxis eingestellt.
My sister has been employed at a small doctor's office since Monday.
Nach mehreren Fehlern hat die Firma den Mitarbeiter entlassen.
After several mistakes, the company fired the employee.