Sredojevic came under immense scrutiny over the past two weeks after the shock defeat to ENPPI in the Egyptian Premier League and the last straw was the heavy defeat in the CAF Champions League at the hands of TP Mazembe.
While results have not been forthcoming up to the high standards of the five-time African Champions, the reported wage disputes have been one of several disputes within his brief tenure.
Scroll through the gallery below to see the 15 managers before Micho over the past five years
Micho confirmed the reports of Egyptian media claiming some players have been unpaid for the last four months, while Tunisia international Hamdi Nagguez was the first to terminate his contract within the latest ordeal.
snl24.com/kickoff can reliably confirm the former Orlando Pirates manager is currently in talks with the club to negotiate his compensation package despite widespread backing from the squad after their latest defeat.
Having won the Egyptian Cup during his stint in charge, Micho becomes the 16th permanent manager to be sacked by controversial president Mortada Mansour since he was elected in 2014.
Former Al Ahly boss Patrice Carteron, who won the CAF Champions League with Mazembe in 2015, is expected to be confirmed as his successor imminently.
Sredojevic took charge of Zamalek for 12 games, with a record of seven wins, one draw and four defeats.