Despite beating Leeds United 3-0 on Sunday, relegation was officially confirmed when Tottenham Hotspur secured a 1-0 victory over Everton to finish two points above the drop zone.
It's the first time in 14 years that the Hammers will be playing second-tier football, and according to Sky Sports, Nuno is unlikely to be the man leading their charge back to the Premier League.
West Ham co-owner David Sullivan and other members of the club's board have held "crisis talks" with the Portuguese tactician on Monday, and the meeting has continued into the afternoon.
The same report claims that the 52-year-old is free to leave the London Stadium, and the Hammers can terminate his deal with no compensation if that is the decision they come to.
Nuno joined the Irons in September on a three-year deal after replacing Graham Potter, but has won just 12 of his 37 matches in charge, losing 16.