Russell Martin has been sacked as Rangers head coach after a 1-1 draw with Falkirk left them in the bottom half of the William Hill Premiership.
Martin had only presided over one victory in seven league games in charge and needed mounted police to help escort him out of the Falkirk Stadium car park as Rangers fans vented their anger.
A club statement read: "Rangers Football Club confirms that it has parted company with head coach Russell Martin.
"While all transition periods require some time, results have not met the club's expectations."
Martin had come under increasing pressure with fans demanding his exit even after they sealed a late win at Livingston the previous weekend.
Supporters again turned their ire on the former Scotland international after striker Bojan Miovski opened the scoring at Falkirk and there were repeated chants against him after Henry Cartwright deservedly levelled for the Bairns.
While Martin was escorted to the car park by security staff and then mounted police led a car out of the ground, supporters surrounded the team bus.
The draw left Rangers in eighth place in the Premiership table, 11 points behind leaders Hearts.
The former Milton Keynes Dons, Swansea and Southampton manager secured just five wins in 17 games overall and Rangers have lost their opening two Europa League games after failing to make the Champions League.
Martin has left Rangers in the Premier Sports Cup semi-finals, though, with a Hampden derby with Celtic to come on November 2.
The 39-year-old took responsibility for their overall predicament after Sunday’s game.
When asked if the players were giving him enough, he said: "They’re giving us everything they’ve got. I think they’re really trying. So I have to take responsibility for it, not them.
"There’s been some really honest discussions with them in the dressing room, some frustration with them and each other, but ultimately I’m the one in charge of the team, so I have to accept responsibility."
Rangers confirmed that Martin’s assistant, Matt Gill, and first-team coach Mike Williamson would also be departing.
"Russell and his staff have worked exceptionally hard throughout their time at the club," the statement added. "We thank them for their efforts and wish them well for the future.
"Further updates from the club will follow in due course."
Martin was appointed exactly four months ago after a lengthy recruitment process which followed Philippe Clement’s sacking in February.
Former Ibrox captain Barry Ferguson took interim charge in the final months of the season as part of a management team involving former team-mates Neil McCann, Billy Dodds and Allan McGregor.
Martin’s appointment came after a takeover by an American consortium that involves 49ers Enterprises and the new regime, plus chief executive Patrick Stewart and sporting director Kevin Thelwell will now face major pressure to get the next appointment right.
Former Rangers manager Ally McCoist feels the club's new owners and Martin "underestimated" the size of the task at Ibrox before the head coach was sacked.
Martin was appointed soon after an American consortium secured a majority stake in Rangers but the new-look board now face another major decision.
McCoist said on TalkSPORT: "We’re sitting eighth in the table and we have a negative goal difference so there’s no surprise at all.
"I think probably the new owners and certainly the old management staff probably underestimated the size of the job.
"There’s a lot of people maybe just look a little bit at Scottish football and say 'Celtic and Rangers will win their games and that’s it finished because that’s what they do’. But football is a lot more difficult than that.
"I just think that aligned to really poor, really poor business in the transfer market in terms of recruitment.
"It’s easy to blame the manager and that’s where the buck stops, we all know that’s what happens, but the players have got to take some of the responsibility as well. Some of the defending…
"The goals Rangers lost in midweek (against Sturm Graz) were incredible.
"Rangers look like wee boys. Falkirk out-ran Rangers, they out-fought Rangers and that can happen occasionally but it’s been happening on a regular basis. It’s not good enough.
"The away games. They’ve been to St Mirren, Motherwell, Falkirk, Livingston. It’s not as if they have been to Celtic, Hearts, Hibs, Aberdeen. These are games you are expected to win."
