The Dutchman was walking on thin ice for a while after winning no silverware and crawling into the Champions League despite spending over £450 million last summer.
Andoni Iraola is the overwhelming favourite to replace Slot after leaving Bournemouth, and he's joined on their shortlist by Stuttgart boss Sebastian Hoeness and Lens coach Pierre Sage.
Iraola earned huge praise for leading the Cherries into European football for the first time in their history, and according to The Telegraph, the Spaniard wants to take Tommy Elphick with him as his assistant if he's appointed the club's next head coach.
Elphick is the assistant manager of Bournemouth and, earlier this week, surprisingly turned down the opportunity to become head coach of Championship side Bristol City.
Liverpool fans are excited about the possibility of Iraola taking over at Anfield, and if he does, it will be interesting to see how he performs in a big club environment.