Peter Taylor was appointed in October 2013 following the dismissal of former manager, Martin Allen.
Initially he was given an interim contract while the search began for a full time replacement but a month later he was confirmed in the role until the end of the season.
Under his stewardship the club managed 17th in the league, safely out of the relegation zone but Taylor has been plagued by a run of poor results this season.
They are currently only two points above the relegation zone following a 3 - 1 defeat to Bristol City at the weekend. They've won just six of their last 23 matches.
Assistant manager Andy Hessenthaler will lead the club at Port Vale on Saturday.
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