The Bairns broke the news tonight that the 47-year old and the club had parted company.
The decision follows the humiliation at Firhill yesterday where the Bairns lost 6-0 against Queen’s Park in what was one the most abject days in the club’s 144 year history.
The start of Sheerin’s stewardship was promising, but after 16 league matches the table makes for grim reading with only six wins in total, with inconsistency the story of the campaign so far.
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A club statement read: "Falkirk Football Club has today parted company with Head Coach Paul Sheerin. We wish to thank Paul for his efforts and hard work during his time at the Club and wish him well for the future.
"Assistant Head Coach Danny Grainger will take interim charge of first team duties while the Club embarks on a search for a new Head Coach. A further update will be provided in the coming days."
A replacement has not yet been announced, with assistant Danny Grainger taking interim charge.
Falkirk host table-toppers Cove Rangers on Saturday in cinch League 1.