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After an absolutely dreadful run of results Saturday's embarrassing 2-0 defeat away to Livingston seemed to be the straw that broke the camel's back, with Hay given the boot this lunchtime.
Hay's assistant Billy Kirkwood has also had his contract terminated by the club.
Paul Hegary will also leave his post as First-Team Coach tomorrow (Tuesday) completely severing all ties with the Davie Hay 'dream team' management setup.
Craig Robertson and Hamish French are to take training until a management team is decided for Saturday's crucial relegation fixture against Dundee. No information has been given regarding any role which Jim Leishman may have at the club over the next three games.
And so, as one of the darkest periods in the Pars history finally comes to an end, survival in the SPL may yet prove to be possible.