The pair have been given notice to end their contracts and placed on ‘garden leave’ with immediate effect as part of an on-going review into the club’s performance.
Burton was appointed in May 2014, with Day given his role in July but the arrival of Pulis, who replaced Alan Irvine as head coach in January, has seen the club move in a different direction.
“Both Terry and Mervyn depart with our best wishes for their future endeavours and gratitude for their efforts during another demanding season,” said chairman Jeremy Peace.
“But I am on record as saying the club would be engaged in an on-going review at all levels and it was felt changes were required.
“We are looking ahead positively to a new beginning under Tony Pulis after two gruelling seasons.
“All our focus now is on preparing the squad for a stronger performance. Our plans for this summer are already in place.
“In Tony, we have a very experienced and hands-on operator. In the fullness of time we will recruit suitable candidates for the posts.”