Jaap Stam has resigned following Feyenoord's heavy defeat against rivals Ajax.
The former Manchester United star watched his side lose 4-0 at the Johan Cruyff Arena and had only taken over at De Kuip in the summer.
His side sit 12th in the Eredivisie with just 14 points from their first 11 games, and just one win in their last five matches.
Sporting director Sjaak Troost insists Stam still had the club's backing but reluctantly accepted his resignation.
He said: "He certainly still had our support and the player group also wanted to continue with him. But if someone says: 'I no longer believe in it and want no more', we respect that and it will stop. What a shame."
They've also lost two out of their three Europa League matches, including a 1-0 defeat to Rangers in the first match thanks to Sheyi Ojo's wondergoal.
Swiss outfit Young Boys beat them 2-0 on Thursday night while they defeated Porto in their other match.
Former Rangers boss Dick Advocaat is being tipped to replace him at the helm, having previously rejected the job before Stam took over.
Stam replaced another former Rangers hero in Giovanni Van Bronckhorst, who quit the job in the summer after four years in charge and is currently in a coaching role at Manchester City.
Rangers travel to Rotterdam to take on the Dutch giants on November 28, with games against Porto and Young Boys also to come.
Last season, all three of Rangers' Europa League group stage opponents sacked their managers during the course of the campaign.
Villarreal axed Javier Calleja, Rapid Vienna got rid of Goran Djrucin and Spartak Moscow sacked Massimo Carrera.
