Valencia have fired coach Miroslav Djukic, the La Liga club have announced at a press conference.
The former Valencia player only took the reins at Mestalla in June, succeeding Ernesto Valverde.
Yet Sunday's 3-0 loss at Atletico Madrid, which left Valencia ninth in La Liga with eight defeats from 16 matches, prompted the club's board to take action.
Addressing the media on Monday, president Amadeo Salvo said: "The motive of this press conference is to announce on behalf of the Valencia board of directors the unanimous termination of Miroslav Djukic.
"It's a tough day for everyone. After a start where (we) had a lot of confidence, we are not in a postiive place, but football has these kinds of situations."
Djukic acknowledged that he had not delivered on the promises he made when he took over at the club but was disappointed to be leaving.
"As a professional it is a decision that I do not understand, but I respect it," he said. "I have not managed to put Valencia where I said when I arrived, so I'm the one to blame.
"I wish good luck to the president and to the union of everyone to take the club forward."
Youth coach Nico Estevez has been placed in temporary charge of first-team affairs.
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