The Brewers sit bottom of the EFL League One table on 13 points and look set to return to the fourth tier for the first time since the 2014-15 season.
Club chairman speaks out on Buxton sacking
In a statement released by the club, Burton chairman Ben Robinson said "I am extremely disappointed as everyone at the club was rooting for Jake and wanted him to succeed in his first opportunity as a manager. Sadly, it has not owrked out.
"At the end of the day, results matter and following the 5-1 defeat at Lincoln (City), after 20 games we have only won two matches and we're getting deeper and deeper into relegation trouble.
"That was compound by losing to Wigan (Athletic), the eam just above us and conceding four more goals. Therefore, I felt the time was right to get someone else in and see if they can change the team's fortunes and give us a better opportunity to avoid relegation.
"Nobody could have worked harder than Jake. He has put in a lot of long hours and huge amount of effort and we are really sorry that hasn't paid off in terms of results.
"What we can say is the playing budget was very similar to last season as we wanted to give Jake every chance of succeeding with the team."
Brewers icon talks about recent difficulties at Burton
Buxton commented on his dismissal, stating "we haven't won enough games all season. I have been given a fair crack in terms of the length of time I have had but tonight was a game we needed to win.
"I have done everything in my power during my time in the job iin what has been these difficult COVID-19 times. I have been honored to be associated with this football club for a long period of time, to have captained the team to have played in front of the supporters and ot have managed the club.
"I have an appetite to continue in management and I believe I will succeed but it's a sad night tonight as nobody wanted it to end like this. Ultimately, that's football."