Neil Warnock has been sacked as manager of Queens Park Rangers after less than two years in charge.
Rangers currently sit 17th in the Premier League table with only 17 points from their first 20 matches.
A statement on the club website said: "The Board's commitment to retaining our Premier League status ultimately led to this decision."
Assistant manager Mick Jones and first team coach Keith Curle have also left the club.
They have lost six and drawn two of their last eight and won only four league games all season.
Only a last-minute equaliser from Heidar Helguson prevented Rangers crashing out of the FA Cup at the hands of League One MK Dons.
Chairman Tony Fernandes, said: "This decision has been made in the best interests of the Club and I can assure everyone that this is not a decision that was made lightly.
"Sadly, our recent run of poor form has seen us slip alarmingly down the table and the Board felt it was the right time to make a change.
"Neil has acted with honesty, professionalism and integrity throughout his time at the Club, and I would personally like to thank him for his significant contribution to QPR over the last 22 months."
Warnock, who took charge at the club in March 2010, added: "Obviously I'm very disappointed, but having achieved so much, I leave the club with a great sense of pride.
"I have enjoyed my time here more than anywhere else and the QPR fans have been brilliant with me - they deserve success.
"My biggest regret is that the takeover didn't happen earlier, because that would have given me the opportunity to bring in the targets I'd pinpointed all last summer and probably given us a better chance to succeed in the Premier League."
He added: "The board at QPR are hugely ambitious and I wish them every success for the future.
"I've been involved in the game a long time and I will be spending the immediate future with my family and friends before deciding my next career move."
The 63-year-old took charge at Loftus Road in March 2010, with the club 20th in Championship after leaving his post at Crystal Palace.
Just four defeats followed in the remaining 14 matches and Rangers finished the season in 13th place.
His first full season in charge saw Warnock achieve promotion to the Premier League, as he guided the Hoops to the Championship title with 24 wins from 46 league matches, to end their 15 year absence from the top flight.
Despite the success speculation surrounded the manager in the summer, with names including Marcelo Lippi and Claudio Ranieri both linked with the role.
When vice-chairman Amit Bhatia then left the club in May more rumours circulated before new owner Tony Fernandes took charge and assured Warnock of his future.
Warnock is one of just 19 managers to be members of the 1000 club after taking charge of 1000 domestic league and cup matches in England.
His first managerial role came at Gainsborough Trinity in 1981, before moving on to manage Burton Albion.
He then took charge of Scarborough and guided them to promotion to the Football League for the first time in 1987.
Notts County was his next stop, taking charge at Meadow Lane in January 1989, where he tasted success with two successive promotions.
They won promotion to Division Two in 1990 before he took them into the top flight 12 months later.
In 1993 Warnock joined Huddersfield Town and achieved another promotion, taking them into Division One in 1995, before achieving more success with Plymouth Argyle when he guided them into Division Two.
He took charge of Oldham and Bury before being appointed manager of his hometown club Sheffield United in December 1999.
He led the Blades to led the side to both the FA Cup and League Cup semi-finals, the First Division Play-off Final and then, in May 2006, promotion to the Premier League.
Warnock left Bramall Lane following the club's relegation 12 months later and took charge of Crystal Palace guiding them to 5th and 15th place finishes in the Championship, before leaving to join Rangers.
The former player with Chesterfield and Rotherham said he would retire at the age of 60 before changing his mind. He has also previously declared that this would be his last job but his quotes appear to suggest he is still not ready to finish yet.
Mark Hughes has been installed as the bookmakers favourite to replace Warnock at Loftus Road.
FACTFILE
1948: Born 1 December, in Sheffield
1967: Begins playing career at Chesterfield aged 19
1981: First full-time managerial job with Northern Premier League side Gainsborough Trinity
1987: Leads non-league Scarborough into Football League
1993: Guides Huddersfield to Autoglass Trophy final at Wembley in his first season
1999: Appointed Sheffield United boss after spells with Plymouth, Oldham and Bury
2003: Reaches FA Cup and League Cup semi-finals with the Division One club
2006: Manages in top-flight for the first-time after the Blades win promotion
May 2007: Leaves Bramall Lane after controversial Premier League relegation at the expense of West Ham
October 2007: Joins cash-strapped Crystal Palace
March 2010: With Palace in administration, Warnock crosses London to take over QPR
May 2011: Takes the Hoops into the Premier League
May 2011: Leaves Loftus Road with QPR sitting 17th in the Premier League.
