Bradford's joint managers Mark Trueman and Conor Sellars have been relieved of their duties with immediate effect.
The pair were promoted from their roles as the club's under-18s coaches to take caretaker charge in December and were appointed permanent joint managers for the final 19 games of the season.
Both Trueman and Sellars have been offered new roles to remain at the Sky Bet League two club.
"Mark Trueman and Conor Sellars have been relieved of their managerial duties at Bradford City with immediate effect," Bradford said in a statement on their official website.
"Plans are already in place with regards to the vacant managerial position and the club is not seeking applicants for the role. An announcement will be made as soon as possible."
Trueman and Sellars took over from previous boss Stuart McCall and assistant Kenny Black after they were sacked in December with Bradford sitting in 22nd place in the table.
The Bantams lost only one of their next 15 league games, winning 10, to move clear of relegation trouble, but failed to win any of their last seven matches.
Bradford's chief executive officer Ryan Sparks said the club would be appointing a more experienced manager.
"I would like to take this opportunity to thank Mark and Conor for their endeavour and commitment over the past six months," he said.
"Both men were fearless in taking on a formidable task in December and faced the challenge with everything they had.
"After saving us from potentially dropping out of the division, we wanted a strong finish to the season to give us momentum, heading into next.
"This has not transpired and one point from a possible 21, in the end, has ultimately seen us settle for mid-table, which is far away from where this club wants and needs to be.
"We feel, at this point, we need more experience to take us forward into the summer and next season, which, for us, is a hugely significant one. We have a crucial few months in front of us and it is important we are in the best-possible position to be able to prepare for them.