Press Association Sport understands the departure of the Welshman, who had 12 months remaining on his contract, is a direct result of the outcome of talks between Reds boss Brendan Rodgers, chairman Tom Werner and Fenway Sports Group president Mike Gordon.
Magista Obra Shoes UK Rodgers was close to Pascoe, whom he brought with him from Swansea in June 2012, however he has fallen victim to the "comprehensive plan for improvement" agreed after Tuesday's meeting.
It is understood it was a "mutual decision" by all three at the meeting to dispense with the services of Pascoe.
Magista Obra FG Black UK The overhaul of backroom staff had already begun with first-team coach Mike Marsh's contract not being renewed.
In the wake of the news of Marsh's departure earlier in the day speculation had begun over who will replace him.
Magista Obra FG Green UK Former players Sami Hyypia, the ex-Bayer Leverkusen and Brighton manager, and Bolo Zenden, who served as interim assistant manager to Rafa Benitez at Chelsea in 2012-13 season, were two early names suggested, and after Pascoe's exit the list will grow.
Magista Obra Laser Orange Recently-retired defender Jamie Carragher had been tipped to move into coaching when he quit two years before deciding to become a television pundit while departing captain Steven Gerrard - who has been offered a role at the club when he returns from the United States - is taking his coaching badges but has an 18-month playing contract with Los Angeles Galaxy to fulfil first.
Another name already mentioned is that of Pako Ayestaran, who worked as Benitez's assistant for the first three years of his reign at Anfield - which took in their 2005 Champions League victory - who has just left Maccabi Tel Aviv after guiding them to an unprecedented treble in the Israeli League.