Liverpool has sacked manager Brendan Rodgers, ending his three years in charge of the club.
He was fired hours after a 1-1 draw in the Merseyside derby against Everton.
Owners Fenway Sports Group, who five months ago gave their backing to the Northern Irishman, said: “Although this has been a difficult decision, we believe it provides us with the best opportunity for success on the pitch.
“Ambition and winning are at the heart of what we want to bring to Liverpool and we believe this change gives us the best opportunity to deliver it.
“The search for a new manager is underway and we hope to make an appointment in a decisive and timely manner.”
Liverpool is currently 10th in the Premier League, with just 12 points from eight matches.
Rodgers had been dogged by speculation about his future since a humiliating 6-1 defeat at Stoke on the final day of last season.
The American owners allowed Rodgers to spend £80m in the summer – most of which was recouped with the £49m sale of Raheem Sterling to Manchester City.
But performances have been below par this season, with Liverpool winning only three league games – against Stoke City, Bournemouth and Aston Villa.
They were beaten 3-0 at home by West Ham and needed a penalty shoot-out to overcome fourth-tier Carlisle United in the League Cup at Anfield.