No longer bound to be hired out again
I believe the answer is:
released
'no longer bound to be hired out again' is the definition.
I can't judge whether this defines the answer.
'bound to be hired out again' is the wordplay.
'bound' means to remove the middle letters (I've seen 'bounds of' mean this (the letters which form the boundaries of the word)).
'to be hired' becomes 'rented' (I've seen this before).
'out' is an insertion indicator.
'again' becomes 'leas' (I can't justify this - if you can you should give a lot more credence to this answer).
'rented' with its centre removed is 'reed'.
'reed' going around 'leas' is 'RELEASED'.
Can you help me to learn more?
(Other definitions for released that I've seen before include "Set free" , "free after imprisonment?" , "Let out - let out again" , "Discharged" , "Sent from prison" .)