Manager Paul Simpson has been relieved of his duties by Stockport County, who are 21st in League Two, with immediate effect.
The Hatters are just four points above the relegation zone following a run of just three wins in 19 games.
A statement on www.stockportcounty.com read: "After much deliberation, it has been decided a change is necessary if the club is to achieve its aims for this season and beyond. The board would like to place on record their thanks to Paul for his considerable efforts while at Edgeley Park and wish him well for the future. This is a very important time for Stockport County Football Club and, with our Football League status the main priority, the board felt that given the club's current league position, the best way forward was to agree to make a change now."
Coach Peter Ward has been placed in temporary charge of first-team affairs and will be given the go-ahead to add 'four or five' new players to the squad during the January transfer window.
Following the takeover of the Greater Manchester club by the 2015 consortium in June 2010, Ward took up on the chance to take charge of first team training of his former club during the close season whilst the new board searched for a permanent manager, which turned out to be Simpson.
After showing such early promise as player/manager at Carlisle, he has not been able to follow that up and has since left the top job at Preston North End, Shrewsbury Town, and now County.
It seems that Stockport have already narrowed their search for a new manager down to two names, less than twenty four hours after they sacked Simpson, who left the club after six months in charge on a day where two other league managers lost their jobs too.
(Ahh, Karma; ex-head farmer Parkinson was one of them, have a good laugh about that here:
However, this could finally see the return of Jim Gannon, who may well be interested in a return to the Hatters having been out of full time work since leaving Peterborough in 2010.
Gannon was a great success at Edgley Park between 2005 and 2009 and has had two jobs in a short time since then, he left Motherwell in the SPL after only 25 games.
Ward was in fact his assistant while at Motherwell.
He's a hot favourite though to be offered the vacant position at Port Vale, who need a manager very quickly.
Of course, if results go his way, the current County caretaker Ward may be offered the position full-time.
Meanwhile, other names mentioned in dipatches include David Penney, also in the running with the Valiants; Paul Hart, but not sure he'd want to drop into the bottom tier; and more promisingly Darren Ferguson, who has been sacked from two jobs in 12 months at Peterborough and Preston, but did well enough early on with the Posh, and would certainly get Daddy to loan him a player or two!
The Shrimpers next play Stockport away, after a 1-1 draw in their first match of the season at Roots Hall, on Saturday, March 26th.
UPDATE: It's no return to the Hatters for Gannon: