The axed Chelsea boss presided over back-to-back defeats against West Brom and Juventus, while the west London side haven’t won in the league since October 20.
But Taylor expressed his astonishment that the Italian manager has been sacked so soon after leading the Blues to domestic and European cup success.
"I know Roberto well and he is a good man so this is sad news," Taylor told the BBC.
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"It must be a record, and not a good one. It just shows that patience now seems a rare commodity at some clubs and that is a shame because the record of other successful clubs shows that stability can breed success.”
Taylor does not expect Di Matteo, who took over the Chelsea job in March initially on a caretaker basis after the dismissal of Andre Villas-Boas, to be out of work for long.
He added: “I am sure that it will not be long before another club recognises Roberto's qualities, and that he will soon be back in football."