Wolves fired Vitor Pereira just weeks after he signed a new long-term contract.
Pereira took over from Gary O'Neill last December and led the Molineux club out of the relegation zone before finishing in 16th place after a remarkable doubling. Manchester United.
Matheus Cunha He moved to United in the summer, and despite a poor start to the new campaign, Pereira began signing a new contract on 16 September.
However, results did not improve and Pereira, 57, was sacked after Saturday's 3-0 defeat at the stadium. Fulham.
Executive chairman Jeff Shea said: “Vitor and his team have worked tirelessly for Wolves and helped us through a difficult period last season, for which we are grateful.
“Unfortunately, it has been a disappointing start to this season and despite our strong desire to give the head coach time and matches to find improvement, we have reached a point where we need to make changes.
“We thank Vitor and his staff for their efforts and wish them all the best for the future.”
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Youth team coaches James Collins, who heads the under-21 team, and under-18 coach Richard Walker will take charge of coaching while the club searches for Pereira's replacement.
Pereira and Wolves players met the home fans at Molineux Stadium last weekend following their 3-2 defeat to Molineux. Burnley.
This was followed by another defeat to Fulham, which Pereira described as the worst result of his 38-game spell.
This loss was the last straw for Wolverhampton, and Pereira is looking for another job, but he prefers to remain with the team. Premier Leagueunderstands the PA news agency.
On Sunday morning, Pereira was informed that he would be relieved of his duties. However, he would not be paid for the duration of his contract, as his new contract included a clause that provided for this.
Experienced Portuguese coach Pereira reflected on his future in the summer after key figures such as Cunha and Ryan Ait-Nouri were sold and replaced by players with no Premier League experience.
However, he continued to strive to build on the success of last season, when he was nominated for manager of the season, but late goals against Tottenham and Brighton undermined the team's morale.
After another disappointing defeat to Fulham on Saturday, making it eight in 10 league matches, Wolves have decided to take action and now face a race against time to find a successor for Pereira ahead of this weekend's trip to Chelsea.
The Portuguese wrote on Instagram: “It has been a great honor to manage Wolverhampton Wanderers and experience unique moments with the club and its fans.
“I would like to thank the club owners for their trust, the players for their hard work and dedication over these months, and all the staff for making me feel like part of the family.
“I wish the club all the best for the remainder of the season.”
