Notts County have sacked manager Harry Kewell.
But he won just three of his 14 games in all competitions at County who are 22nd.
Owner Alan Hardy, who has invested £10million since buying the club, wanted promotion this term but could face relegation.
Hardy said: “Unfortunately things quite simply were not working out for him here at Meadow Lane.
“Results have not been good enough and performance levels are a continuing concern. We see no reason to continue with something we don't think can work."