Manchester United have sacked boss Ole Gunnar Solskjaer after Saturday's 4-1 defeat at Watford.
The Norwegian, 48, has been relieved of his duties after just shy of three years in the job, with Michael Carrick set to take charge temporarily.
United intend to appoint a manager on an interim basis to see them through until the end of the season.
A club statement said: "Ole will always be a legend at Manchester United and it is with regret we have reached this difficult decision.
"While the past few weeks have been disappointing, they should not obscure all the work he has done over the past three years to rebuild the foundations for long-term success.
"Ole leaves with our sincerest thanks for his tireless efforts as manager and our very best wishes for the future.
"His place in the club’s history will always be secure, not just for his story as a player, but as a great man and a manager who gave us many great moments.
"He will forever be welcome back at Old Trafford as part of the Manchester United family."
Solskjaer leaves United following a dismal run of five defeats in seven in the Premier League, which also included humbling defeats to rivals Liverpool and Manchester City.
But the former Cardiff boss believes the club he leaves behind are in a better position than when he arrived.
He said: "I think everyone knows I've given everything. This club means everything to me and together we're a good match, but unfortunately I couldn't get the results we needed and it's time for me to step aside.
"It's been a ball, it's been absolutely enjoyable from the first to the last minute.
"I have to thank all the players because since I came in, they're top lads, top people. Some have come, some have gone, but all of them, they've been such an enjoyable bunch to work with.
"I know the foundation is there, I know they're ready to kick on, and I'm sure they will. I'm sure we'll seem them puff their chest out and they'll go on a run."
Despite Solskjaer's rallying cry, United are currently eighth in the Premier League table — 12 points behind leaders Chelsea.
After splashing the cash on Cristiano Ronaldo, Jadon Sancho and Raphael Varane in the summer, results and performances have not been up to scratch.
Since Sir Alex Ferguson left the club in 2013, only Jose Mourinho (58.3%) had a higher win percentage than Solskjaer's 54.2%.
But the pressure reached new levels after the shambolic defeat at Vicarage Road.
Goals from Joshua King, Ismaila Sarr, Joao Pedro and Emmanuel Dennis put the Red Devils to the sword, while captain Harry Maguire was also sent off.
United head to Villarreal in the Champions League on Tuesday before a trip to Stamford Bridge to face Chelsea on Sunday.