Rankouts is a relatively uncommon word that refers to losing one's rank or status. However, there are numerous synonyms for this word that convey the same idea. One such word is "demotion," which denotes a lowering in position or rank. Another synonym for rankouts could be "degradation," which indicates a decline in status or reputation. "Dethronement" is yet another synonym that can be used when referring to losing one's rank or status. Other options include words like "displacement," "downgrade," "relegation," and "ouster," all of which are useful vocabulary choices when it comes to discussing demotions and rankouts.