It has left Southampton just one point and one place above the Premier League drop zone with eight games of the season remaining and there's every chance that they could slip out of the top flight if results don't dramatically improve.
Saturday's 3-0 defeat by Newcastle United had left them a place and a point above the relegation zone and sealed the Argentine's fate.
Le Tissier added the Virgil van Dijk saga in the summer, where the club refused to sell the defender to Liverpool before a big-money move to Anfield in January, may have disrupted Southampton in the first half of the season.
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Southampton are hoping to announce their new manager before they visit third-tier Wigan Athletic in the FA Cup quarter-finals on Sunday with their next league game not until 31 March when they travel to West Ham.
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"The club will look to appoint a new management team as soon as possible, with the search for a replacement already under way".
As for Puel, he is now in charge at Leicester who, ironically, are eighth in the Premier League, the position that Saints were when they fired the Frenchman.
Pellegrino, who leaves with the third worst Southampton managerial record in the Premier League, appeared to be bracing himself for the sack after last weekend's loss to Newcastle as he admitted he "observed some players who gave up".
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