Southampton have sacked manager Russell Martin after a 5-0 thrashing by Tottenham on Sunday left them nine points off Premier League safety.
Martin, 38, guided the Saints to promotion last year in his first season in charge, beating Leeds United in the play-off final at Wembley.
But the loss against Spurs was Southampton's 13th in the league this campaign from 16 games.
Their only win this season was against Everton in November, while the St Mary's club have scored a league-low 11 goals.
"Going into the start of the season, we all knew the challenges that we would face this year as we readjusted to life in the top flight, competing in the best and most competitive league in the world," said a Southampton statement.
"However, the reality of our situation is clear. The board have supported Russell and his staff and been open and transparent regarding our expectations.
"We have all been on the same page in recognising the urgency of needing results to improve.
"We would like to take this opportunity to thank Russell and his staff for all the hard work and dedication they have given the club on and off the pitch over the last 18 months.
"Everyone connected with Southampton FC will always have fantastic memories of last season, especially the play-off final win in May."
Southampton Under-21s manager Simon Rusk will take interim charge of the senior side and his first game will be a Carabao Cup quarter-final at home to Premier League leaders Liverpool on Wednesday.
Martin's dismissal comes on the same day as fellow top-flight strugglers Wolves decided to sack manager Gary O'Neil.
Southampton were 5-0 down to Tottenham before half-time and frustration from some of the home fans was directed at both Martin and club owners Sport Republic.
Despite making nine permanent signings in the summer, Saints' squad has been exposed in the Premier League, with the lack of goals and a porous defence.
"This is a very precarious job," said Martin after the game. "I can't sit here after losing 5-0, being bottom of the table and pretend I'm feeling confident about my job.
"I've no choice but to work and to fight. That's all I've done in this job and I'll continue to do that until I am told otherwise."
No team has ever had five points or fewer at this stage of a Premier League campaign and avoided relegation.
Martin has refused to compromise on his possession-based passing principles but it has not worked as:
Only four teams have had a worse goal difference after 16 Premier League matches of a campaign than Southampton's -25
Southampton have had more errors leading to goals than anyone else this season (10) and more mistakes leading to shots than any other side (26)
Saints have faced 108 shots on target this season - the most in the Premier League
Southampton's next league game will be a trip to Fulham before they host West Ham and travel to Crystal Palace before the end of the year.
"They have imploded a lot," BBC Sport pundit Danny Murphy told Match of the Day 2.
"Football is ruthless and when you are at the bottom and the hierarchy and supporters want to stay up, you are going to get moved on. Someone else is going to come in and have a hell of a job but I think it's too late."
He added: "You have to be more flexible than he [Martin] was. Ultimately, in the Premier League if your recruitment isn't very good and you don't have a lot of Premier League experience, you are going to struggle and that is what happened."
Southampton fans held up a banner at the game against Spurs which read: "RM: Get out of our club!"
"It is harsh seeing the Russell Martin banner. Not long ago he got them up and was a hero," former Republic of Ireland keeper Shay Given told MOTD2. "The Premier League is a big step up from the Championship."
Nick Mashiter, BBC Sport football reporter
Martin was under pressure from the start of the season at Southampton with the club unable to get up to speed with the Premier League quickly enough.
There is little shying away from the criticism he has received for his possession-based style. Southampton have given away too many soft goals, have failed to adapt on the pitch and their position speaks for itself but it has not been for the lack of trying or coaching.
Despite the struggles, the Southampton ownership have been supportive of the management this season. They had been present around the Saints' Staplewood training ground often, but after the defeat to Spurs, ultimately decided they had no alternative.