The former Monaco coach has been under pressure after a dismal run that has seen the Sicilians fail to pick up a league win since the first weekend in February.

Sunday's 4-3 home defeat to Parma has seen the Rosaneri slip even further down the Serie A table and they now risk missing out on European qualification altogether, despite having spent much of the season in a Champions League berth.

Despite having earlier said Guidolin would not be dismissed at this stage of the season, club president Maurizio Zamparini performed an about-turn after meeting with players and managerial staff on Monday afternoon.

"This is a measure taken to save our season," said Zamparini.

"We have therefore decided that the responsibilities for the team will be handed to Renzo Gobbo, who will work together with Rosario Pergolizzi."

Gobbo was assistant coach under Guidolin while Pergolizzi has been in charge of the club's youth team.

Their task will be to try and salvage a place in Europe next season, with their first match in charge coming at Livorno on Sunday.

Palermo have slipped to sixth in the standings, just two points ahead of Fiorentina.