Wolves chairman Jeff Shi said the club were left with “no choice but to act” after firing manager Bruno Lage on Sunday.
The 46-year-old guided Wolves to a 10th-placed finish last season after succeeding Nuno Espirito Santo in June 2021.
But the Midlands club have won only once this term and Saturday’s 2-0 defeat at West Ham dropped them into the bottom three of the Premier League.
Shi told the club website: “Bruno is an excellent coach, a hard working and dedicated manager, and a warm, wise and honest man.
“He and his staff have been a pleasure to work with throughout their time at Wolves, so it is with much sadness that we have had to make what has been a difficult decision.
“I honestly have no doubts about Bruno’s ability, and I’m sure he will succeed elsewhere, however the team’s form and performances over the last few months mean that we have no choice but to act.
“On behalf of everyone at Wolves, I would like to place on record our gratitude to Bruno and his coaching team for all their efforts during their time with the club, and wish them the very best for the future.”
Lage previously managed Benfica in his native Portugal before joining Wolves, winning the Primeira Liga in his first season in charge.
West Ham v Wolves player ratings WEST HAM PLAYER RATINGS: Lukas Fabianski 7 – Called into action early on when he tipped over from Podence, and again wide to his right from Otto. Rarely threatened thereafter. Getty
Thilo Kehrer 7 – Looked at home in the right-back position and an upgrade on Coufal. His deliveries, in particular, were impressive. PA
Craig Dawson 7 – Solid performance encapsulated by a thunderous challenge on Traore in the first half. The two enjoyed a good tussle throughout. PA
Kurt Zouma 6 – Looked comfortable at the back, though was sometimes guilty of playing the ball out too slowly. Gave former teammate Costa a warm welcome, then went to battle with him. PA
Aaron Cresswell 5 – Looked assured until Traore was introduced, and then he looked to be something of a weak link. Getty
Tomas Soucek 5 – Passing was wayward, but he did the fundamentals well. Often found himself in wide positions, but his crossing is not his greatest strength. Getty
Declan Rice 6 – A controlled performance in which he was calm on the ball throughout. His passing through the thirds was impressive, but he was not at his best. Getty
Jarrod Bowen 7 – Started the game on the front foot and was upended in the area inside 50 seconds, but no penalty was given. Looked lively cutting in from the right, and that’s exactly what led to his goal and West Ham’s second. Cut in, and with the ball bouncing around, he managed to put his foot through it on the half volley. Getty
Lucas Paqueta 6 – Looked dangerous at times but things weren’t quite clicking for him. He was always looking to get forward despite playing in a deep position. Plenty of potential. Getty
Maxwel Cornet 5 – Substituted before the break following a hefty challenge from Podence. Getty
Gianluca Scamacca 7 – Scored a belter on only his second Premier League start, and this shortly after coming close twice. The ball fell to him after good work from Bowen and he rifled home a stunning volley from the edge of the area. Getty
SUBS: Pablo Fornals (Cornet 35’) 7 – Did well after coming on. His best chance was a shot straight at Sa following a neat turn. PA
Michail Antonio (Scamacca 66’) 6 – His best effort was a left footed volley that Sa saved at the second attempt. Held the ball up well. PA
Emerson (Paqueta 74’) 6 – Looked impressive when he came on, very calm on the ball. PA
WOLVES PLAYER RATINGS: Jose Sa 5 – Could do nothing to stop Scamacca’s shot, even when diving at full stretch. Looked to have been beaten too easily at his near post by Bowen for the Hammers’ second, though the winger’s shot was fierce. Getty
Jonny Otto 6 – Looked dangerous on the right. Combined well with Semedo on several occasions, and had a speculative shot inside the opening 10 minutes. AFP
Ruben Neves 5 – Played at centre-back, which no doubt baffled visiting supporters, and fantasy league managers. Wolves could have done with his presence further up the pitch. Getty
Max Kilman 6 – One of the visitors’ better performers, though was guilty of letting Bowen cut onto his left foot too often. Getty
Nelson Semedo 5 – Came in for the suspended Nathan Collins but looked to be playing further forward in a midfield position, rather than at right-back. Worked hard. Getty
Joao Moutinho 4 – The Portuguese looked cumbersome in possession and way off the pace. Should have been replaced. PA
Matheus Nunes 5 – Had a great chance when, after his drop shoulder sent Kehrer sliding away, he miscued when in a glorious position. PA
Rayan Ait-Nouri 5 – Disappointing evening overall from the Frenchman, though he did create one or two chances. Getty
Daniel Podence 7 – Produced a stunning effort from range early on, forcing Fabianski to tip over, and had another attempt moments before the break. Put the ball in the net in the second half, but Costa – who crossed to him – was ruled offside. PA
Pedro Neto 5 – His injury in the first half added further misery to what was a disappointing evening for the visitors. Getty
Goncalo Guedes 5 – An underwhelming performance from the winger, who looked lost throughout. AFP
SUBS: Adam Traore (Neto 24’) 7 – Made his 200th appearance in English football and looked dangerous. He came close with a volley when West Ham failed to clear five minutes after the break, and then pinged in a perfect cross for Costa, who headed wide. Getty
Diego Costa (Guedes 58’) 6 – Had a great chance to score just 10 minutes after coming on. He drifted between two players and rose highest, but could only head Traore’s cross wide. AFP
Chem Campbell (Nunes 73’) N/A – Brought some good energy to the side. He came close with a shot following one particularly mazy run after cutting in from the left. Reuters
Boubacar Traore (Semedo 73’) N/A – Brought a freshness to the team, as well as some tidy and neat passing (no match photo available). PA
He also worked as Carlos Carvalhal’s assistant at Swansea during the Welsh club’s time in the Premier League.
Wolves spent more than £100 million over the summer, with Sasa Kalajdzic, Matheus Nunes, Goncalo Guedes and Nathan Collins all arriving for fees after finishing last season poorly.
Former Chelsea striker Diego Costa and Boubacar Traore joined as a free agent and on loan respectively.
Wolves have won only one of their last 15 Premier League games and are the lowest scorers in the division this term, with just three goals.
Kalajdzic suffered a long-term injury on his debut, while fellow forwards Hwang Hee-chan and Raul Jimenez have also been sidelined.
Coaches Steve Davis and James Collins will prepare the team for the trip to Chelsea on October 8 as Wolves seek to find Lage’s successor.
Updated: October 02, 2022, 5:19 PM