Draw with Sheffield Wednesday spells the end for Hull City boss
The Tigers have confirmed that they have part company with the manager, six months after appointing him as the English Football League's first Russian boss.
Slutsky, 46, who replaced Marco Silva at the KCOM Stadium in June, has won only four of his 19 Sky Bet Championship games in charge.
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Hide AdIt is believed that Hull City's hierarchy were twice close to sacking Slutsky and the draw at Hillsborough could have offered a stay of execution.
The Tigers led against Wednesday through Frazier Campbell's opener and then after Gary Hooper's brace turned things around, Michael Dawson scored in injury time to secure a point.
However, that seemingly wasn't sufficient and a statement on the club's website confirmed that Slutsky had 'left by mutual consent'.
The point left City, relegated from the Premier League last season, 20th in the Championship, three points above the bottom three
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Hide AdSlutsky said: "I would like to really thank everyone associated with Hull City from the players and staff to the owner and especially the fans. '¨'¨
“I am very proud to have been through this experience, it was challenging but a very exciting time for me. '¨'¨
"Hull City will always be a part of my heart and I wish the team all the very best for the future.” '¨'¨
Former Sheffield United manager Nigel Adkins has been linked with the job in recent weeks.