Almeria have relieved Francisco of his duties as Coach following Monday’s 5-2 defeat to Eibar.
The former striker was dismissed after a meeting with President Alfonso Garcia and the rest of the club's board on Tuesday morning.
Francisco began his managerial career with the Andalucians' youth sector before making the step-up to the club's reserve team three years ago.
He subsequently took charge of the senior side last summer and led the outfit to La Liga survival at the first time of asking on the final day of the season.
However, a poor start to 2014-15 has seen Almeria fail to win any of their last eight matches in the League, with the weekend's reverse proving the final straw.
"The eight consecutive matchdays without a win, which have just accumulated just two points, and the need to find a solution to end this run of results have led UD Almeria to take this difficult decision," read a statement on Almeria's official website.
First-team Coach Sergio Pardo will take temporary charge of the side, while former Real Valladolid boss Juan Ignacio Martinez is among the candidates to take over.