The Citizens are rooted to the foot of Scottish football's third tier with just two points to their name - only St Johnstone of the remaining 41 SPFL clubs have failed to register a league victory this season.
Saturday's 1-1 draw at Alloa proved to be the last straw for chairman John Dickson and the board, who informed the 45-year of their decision yesterday morning.
Maybury was initially appointed last March until the end of the 2021/2022 campaign, replacing predecessor Gary Naysmith, and successfully steered the club to promotion from League Two just two months later via the play-offs.
The former Hibs and Hearts full-back then signed a new two-year deal and actually had the club sitting top of League One in October last year.
However, they were unable to maintain their fine start and eventually slipped down the table to finish sixth, six points adrift of the play-offs.
The Meadowbank men have lost 11 of their 13 competitive matches so far this season, including a 4-1 defeat to Lowland League side East Kilbride in the SPFL Trust Trophy last month. City face Kelty Hearts at home this Saturday, however, the Evening News understands it's unlikely Maybury's successor will be in place for the visit of the Fifers. Maybury’s assistant Mark Kerr is expected to take charge of first-team affairs.
A board representative said: "We haven't had a good start to the season and it's shown in our results. We had a chat with Alan yesterday morning and we mutually agreed to go our separate ways. We thank him for his efforts and wish him well in the future."