The Saints conceded five first-half goals against Spurs at St Mary's and they were fortunate that the visitors did not punish them further in the second half.
Southampton ended the weekend last in 20th place with five points after 16 matchweeks and are already nine points from 17th-placed Leicester City.
The club announced on Sunday night on their website that they had sacked Martin, saying: "Going into the start of the season, we all knew the challenges that we would face this year as we readjusted to life in the top flight, competing in the best and most competitive league in the world.
"However, the reality of our situation is clear. The board have supported Russell and his staff and been open and transparent regarding our expectations. We have all been on the same page in recognising the urgency of needing results to improve.
"We would like to take this opportunity to thank Russell and his staff for all the hard work and dedication they have given the club on and off the pitch over the last 18 months. Everyone connected with Southampton FC will always have fantastic memories of last season, especially the Play-Off Final win in May."
Southampton also announced that current Under-21s manager Simon Rusk will take charge of the team on an interim basis until a permanent replacement is appointed.
Deserved sacking?
Martin was praised by some for implementing possession-oriented style of play, with the team having averaged 53.2% possession so far in the Premier League, the eighth highest figure in the top flight.
Pep Guardiola even claimed earlier in October that he would "learn a lot" from coming up against the former Saints boss.
However, though Southampton's approach under Martin was no doubt brave, it would not be unfair to suggest that it was also naive considering the south coast club have conceded 36 goals in the top flight.
If they were to continue their current trajectory, the Saints would concede 85 times over the course of a 38 game season which would be the joint fifth worst record in Premier League history.
Perhaps Martin's brand of football would have succeeded with a more established top-flight team, but his expansive playstyle was always going to be risky, especially with a promoted side.
What next for Southampton?
Southampton are set host Liverpool on Wednesday in the quarter-finals of the EFL Cup, before taking on Fulham away from home in the Premier League four days later.
Rusk is almost certain to be in the dugout for both games, but it is vital that the Saints find a new permanent head coach quickly in order to give the new boss as many matches as possible.
Perhaps they could look to appoint a manager with proven experience in the Premier League such as Steve Cooper - who was sacked as boss of Leicester City in November - or Gary O'Neil, who was sacked on Sunday by Wolverhampton Wanderers.
Whoever is chosen to take over as head coach, they will likely have to implement a more pragmatic playstyle given the Saints have made more errors leading to shots and more errors leading to goals than any other Premier League side this season.
This does not mean the club will have to completely abandon Martin's principle, but perhaps a more nuanced approach to matches will see Southampton pick up more points.
Written by
Lewis Nolan