Baraclough made 149 appearances as a player for Scunthorpe
Scunthorpe United have dismissed manager Ian Baraclough after
to bottom club Preston North End.
Baraclough's assistants Steve Parkin and Kevin Pressman have also been relieved of their duties.
Head of youth Tony Daws has been appointed caretaker manager and will be assisted by chief scout Lee Turnbull.
Chariman Steve Wharton told BBC Radio Humberside: "Ian was sacked because the team are not performing in the manner we feel they are capable of."
He added: "It wasn't a knee-jerk reaction, it was probably the last straw that broke the camel's back."
"I think over the recent games we've not been playing well. I know we've got one or two results but I think we've had a little bit of luck at times as well."
"We've lost our sparkle and not performed to the best of our ability."
Baraclough was appointed manager in September 2010 having previously spent seven years at Glanford Park as a player and coach.
He took over from Nigel Adkins when the former physiotherapist, who twice guided Scunthorpe to promotion from League One to the Championship, left to take charge at Southampton.
At the time, Iron chairman Steve Wharton told the club website he had 'pencilled in' the former midfielder as a prospective manager two years earlier.
Former Burnley and Scunthorpe boss Brian Laws is the early favourite for the vacancy.
Although their form has picked up in recent weeks with victories over
last night's defeat left the Iron third from bottom of the Championship, four points adrift of safety.
Baraclough told BBC Radio Humberside he had lost his job after clearing his desk late on Tuesday evening.
BBC's Late Kick Off spent time with Baraclough days before he was sacked