Salford have parted company with manager Richie Wellens just over a week after winning the Papa John's Trophy.
The Sky Bet League Two club only appointed the 40-year-old in early November, but a run of four games without a win in the division has proved his undoing.
An official club statement read: "Salford City Football Club has parted company with Richie Wellens by mutual consent.
"We would like to thank Richie for his time and efforts at the club and wish him well for the future.
"An announcement about a new manager will be made in due course. There will be no further comment."
Graham Alexander was sacked in October and replaced by Wellens, who left League One Swindon to make the move to the Greater Manchester club.
Owned by members of Manchester United's 'Class of 92', including Gary and Phil Neville, Paul Scholes, Ryan Giggs, Nicky Butt and David Beckham, the club have seen Salford's promotion hopes fade in recent weeks.
City remain ninth in the table, however, only six points off Newport, who occupy the final play-off place.
Nine days ago Wellens led Salford to a penalty shoot-out win over Portsmouth in the delayed final of last season's Papa John's Trophy. Their reign lasted one day before Sunderland clinched this season's trophy.
That Wembley triumph was followed by a home draw with Colchester and then a 2-0 loss at Cheltenham on Saturday, however, paving the way for a change in the dugout.