David Moyes has been sacked as head coach of Real Sociedad following the defeat to Las Palmas.
Friday's 2-0 loss mean La Real sits 16th in the Liga table, just two points off the bottom after 10 rounds of matches.
Former Manchester United boss Moyes stated after the match that he felt he "must do better," but insisted he was not feeling the pressure of a potential dismissal despite the mounting speculation.
However, Sociedad confirmed on Monday that the Scot's time in charge has come to an end just less than a year since his appointment as Jagoba Arrasate's replacement.
Eusebio Sacristan, most recently Barcelona B coach, and former Valladolid boss Gaizka Garitano are two of the current favorites for the role.
"Real Sociedad have decided to rescind the contract of first-team coach David Moyes. His assistant Billy McKinlay also leaves the club," read a club statement.
"The club wants to thank both David Moyes and Billy McKinlay for the contribution, professionalism and dedication they showed during the course of their duties at the helm of the first team. We wish them the best for their professional and personal futures."
Moyes won just 12 of his 42 games since taking charge of Sociedad on Nov. 10 last year.