The former Watford boss joined the La Liga side in June 2016, leading the club to an eighth-place finish during his first season in charge.
However, this campaign has been far from satisfactory. Having won just eight league wins this season, Espanyol are in 16th, just nine points above the relegation zone with five matches to play.
Despite having one year left on his contract, the 1-0 loss to Eibar midweek forced the club to take action, taking the decision to part ways.
Sporting director Jordi Lardin has also left his position at the club with David Gallego set to take charge of the first-team squad for the rest of the season.
20 April 2018