Slot's side have lost half of their 12 Premier League games this season and are 11th in the table after a tough 3-0 loss to Nottingham Forest on Saturday afternoon.
Following their Premier League-winning campaign, Liverpool spent £415m in the transfer window as they seek to defend their title. However, things have not gone as planned and Slot is coming under immense pressure as many fans call for him to be sacked.
However, speaking on talkSPORT, Lawrenson believes Slot will keep his job and backs him to turn the Premier League champions around despite the lack of faith from many pundits.
"It's one of those with the manager, he's under pressure but his job's safe.
"There's no doubt about that whatsoever."
"You've just got to get the players together and go: 'We start at 0-0 and make sure the nil is against us'.
"Until you start making yourself difficult to beat, the way we are at the moment, we just concede for fun."
Liverpool are 11 points off league leaders Arsenal after a poor run of results, and their title race is over. Slot faces PSV Eindhoven in the Champions League on Wednesday night in what could be his final game if a victory is not secured.