Laudrup sacked as manager of Swansea
Swansea City's Danish manager Michael Laudrup reacts at the Boleyn Ground, Upton Park, in London on February 1, 2014 - by Olly Greenwood
The 49-year-old Dane steered Swansea to a 5-0 success over Bradford City in last season's League Cup final, but the club said that they had been forced to act due to "constant uncertainty" surrounding his future.
Laudrup's relationship with the club reportedly became strained during the close season and a poor run of recent form has seen Swansea slide towards the Premier League's relegation zone.
"It is a decision we have taken reluctantly," said Swansea chairman Huw Jenkins in a statement published on the club website.
"But it's a decision made in the best interests of Swansea City Football Club and our supporters.
"It is the first time in nearly 10 years that the club has parted with a manager in this way, but we had to remove the constant uncertainty surrounding the club and Michael's long-term future with us."
Swansea said that former captain Garry Monk would work as head coach alongside current first-team coach Alan Curtis "for the foreseeable future".
As well as winning the League Cup, Swansea finished in ninth place in the Premier League last season, but they have won only one of their last 10 league games in the current campaign.
Last weekend's 2-0 loss at West Ham United left Swansea just two points above the relegation places and on Saturday they host fierce local rivals Cardiff City in the south Wales derby.
Explaining the decision to part ways with Laudrup, Jenkins said: "I felt it was unlikely we would achieve a stable environment at the club to allow us to get back to basics and produce the performance levels that have served Swansea City so well over the last few years.
"Now we need to put that uncertainty behind us and move forward as a united football club on all fronts, while placing on record our gratitude to Michael for the work he has done over the last 18 months and wish him well for the future."
Laudrup is the seventh Premier League manager to lose his job this season, after Paolo Di Canio (Sunderland), Ian Holloway (Crystal Palace), Martin Jol (Fulham), Steve Clarke (West Bromwich Albion), Andre Villas-Boas (Tottenham Hotspur) and Cardiff (Malky Mackay).
As a player, Laudrup was a lavishly gifted playmaker who made his name with Juventus, Barcelona, Real Madrid and the Danish national side.
He began his managerial career with Danish club Brondby in 2002 and subsequently worked at Getafe, Spartak Moscow and Real Mallorca.
His successor, 34-year-old Monk, was a key member of the Swansea team promoted from the Championship in 2011, but injuries have reduced him to a bit-part role in the two and a half seasons since.