Hodges’ exit – along with that of assistant boss Nick Daws – came shortly after Wimbledon were beaten 2-0 by arch-rivals MK Dons in their latest League One fixture at the new Plough Lane.
That loss continued a woeful run of form that has seen the club collect just two points from the last 33 on offer.
Wimbledon have won only five league games all season – with their last victory coming against Peterborough on December 2 – and currently sit 21st and inside the third-tier relegation zone, one point adrift of safety after 25 matches.
Hodges did guide them into the quarter-finals of the Papa John’s Trophy, with a quarter-final tie against Oxford to come on Tuesday night before a huge relegation six-pointer against fellow strugglers Wigan on February 6.
“It is with a genuinely heavy heart that I have to announce that we have parted company with Glyn,” said Wimbledon CEO Joe Palmer.
“After a strong start to the season when the team was arguably over-performing, the recent run of results left us in a difficult position. We need to do everything to ensure our survival in League One and after a brief chat Glyn and I have agreed that a parting of the ways today is in the best interests of Wimbledon.
“I think it says it all about the man and his love for the club that we were able to come to this decision together. I want to place on record my thanks to Glyn and Nick for their efforts in my time here, and I wish them both every success in the future. Glyn’s service to Wimbledon goes back a long way and he leaves the club today with our thanks for all he has done for us over the years, as player, coach and manager.”
First-team coach Mark Robinson will take temporary charge at Wimbledon while the club seek a permanent successor to Hodges, who initially joined as assistant to former boss Wally Downes in December 2018.
The 57-year-old – a former long-serving Wimbledon midfielder in the 1980s – took caretaker charge in September 2019 before being promoted to the job full-time after Downes left in the aftermath of receiving a four-week ban by the Football Association (FA) for breaching rules around betting.
Wimbledon sat 20th last term and stayed up after the League One season was curtailed early due to coronavirus.