Dean Saunders and his assistant manager, Cork’s Brian Carey, have been sacked by Wolves.
Saunders took over in January and oversaw the club’s second relegation in as many years.
They’re now looking for their fifth manager since Mick McCarthy’s sacking in February last year.
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Elsewhere in the Championship Millwall have announced that their manager Kenny Jackett has resigned after six years in the job.
They narrowly avoided relegation on the final day of the season.