The former Liverpool, Blackpool and Stoke City midfielder had overseen just one win in the last 12 matches, the same record as Manchester City currently have under Pep Guardiola
Fleetwood have sacked boss Charlie Adam with the club 18th in the Sky Bet League Two table.
The 39-year-old former Scotland midfielder, appointed last December, departs the Cod Army after Saturday’s 2-0 loss at Barrow.
That was a third defeat in four outings and Fleetwood have won just one of their last 12 matches – the same dismal record that is currently befalling Manchester City under Pep Guardiola.
Owner Jamie Pilley said in a statement on the club’s official website on Sunday: “I’d like to personally thank Charlie for his commitment and professionalism over the last 12 months. He’s been a pleasure to work with, but recent results meant we felt a change was necessary. I wish him well for the future.”
The statement added the club would “issue a further update on the first-team staff in due course”.
Fleetwood were second bottom of League One when Adam took charge and finished 22nd as they were relegated at the end of last season.
They then lost only once in their opening nine league games this term, winning four times, before managing just one victory since then, in early November.
City lost lost nine of their last 12 matches, with the most recent reverse coming in Saturday’s 2-1 defeat to Aston Villa at Villa Park.
Guardiola has come under increasing pressure during the alarming loss of form, and the Catalan has repeatedly blamed himself for his side’s failing.
Speaking after the defeat to Villa, he said: “‘We struggle to score and we concede goals.
“We make a really good first half, we still have problems with the mistake. Second half we dropped, we changed a little bit our pressing for the reason John (Stones) could not continue and we were not as good as the first half. Congratulate Aston Villa and keep going.”
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