The Dane was axed after 18 months in charge after the Swans' run of one win in their last 10 league games, which has left them 12th in the table and one point above the drop zone
Defender Garry Monk will take over temporarily in an unusual move, with the club languishing in 12th place in the Premier League after a run of one win in their last 10 matches. That has left them only two points above 17th-placed West Ham United.
Chairman Huw Jenkins explained that the decision to axe the Dane was taken "reluctantly" and in the "best interests" of the club.
"I had a meeting with Michael today in a final attempt to support him and establish a way to improve the work of the backroom team to secure the results we need over the final 14 Premier League games," he said.
“However, after thinking long and hard about the best way forward, I felt it was unlikely we would achieve a stable environment at the club to allow us to get back to basics and produce the performance levels that have served Swansea City so well over the last few years."
Laudrup had taken over the reins at the Liberty Stadium in June 2012 and led the Swans to a ninth-place finish and victory in the Capital One Cup - the first major silverware in the Welsh club's history.
The majority of Goal Singapore readers have indicated that the sacking was too hasty, with 82.1% saying that it was the wrong decision from the club. The news also comes days before a derby with Cardiff City, and the feeling is that the 49-year-old should have been given more time despite the club's poor form this season.