Falkirk have sacked manager Ray McKinnon hours after Saturday's 1-1 draw at Dumbarton left the club fourth in Scottish League One.
McKinnon joined in acrimonious circumstances from Championship rivals Greenock Morton in August 2018.
But he couldn't prevent Falkirk being relegated to the third tier for the first time since 1980.
Despite a summer signing spree the pre-season title favourites are three points behind leaders Airdrieonians.
Assistant manager Darren Taylor has also been dismissed by Falkirk, who have won one of their last four league games.
Former Dundee United boss McKinnon, 49, had only been in charge of Morton for three months when he was lured away to replace Paul Hartley at Falkirk, who were fined £60,000 by the SPFLbefore reaching agreement with the Cappielow club.
After relegation he rebuilt the Falkirk squad with 17 signings, including former Premiership players such as Conor Sammon and Morgaro Gomis, but poor league form - six wins in 14 - has cost him his job.
It comes two weeks after a proposed takeover of the club by businessman Mark Campbell collapsed following three months of talks.