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The 3-2 defeat against Shrewsbury Town on Tuesday night proved the final straw for Kazim-Richards, who took charge in March.
It was the 40-year-old’s first managerial role and he initially kept the club in League Two at the end of last term.
But Crawley have only won one of their opening 10 league matches, losing seven, and find themselves bottom of the table.
Assistant Julian Gray has also been relieved of his duties and director of football Erdem Konyar will be leaving the club.
A statement read: “Crawley Town Football Club can confirm that Head Coach Colin Kazim-Richards and Assistant Head Coach Julian Gray have been relieved of their duties with immediate effect.
“Director of Football Erdem Konyar will also be leaving the club.
“The club would like to place on record its sincere thanks to Colin and Julian, who joined during a challenging period and played an important role in securing the club’s EFL status at the end of last season. We would also like to thank Erdem for his hard work and commitment since returning to the club last year.
“All three depart with the best wishes of everyone at Crawley Town, and we wish them every success in their future endeavours.
“The club will make no further comment at this time.”
Rovers youngsters Osman Kamara and Nick Michalski are currently on loan at the Broadfield Stadium.
After the Shrewsbury defeat, Kazim-Richards still felt he was the right man to turn things around if given the time.
"I feel I can. If I'm given the time is another question. It's not a question I can answer for you,” he told BBC Radio Surrey.
"I think we need a little bit more experience, a little bit in terms of game management and things like that. But we'll see what happens, right?”
Kazim-Richards added: "I think I've given nine league debuts. That's not an excuse and it's not me getting at them - you can only get experience by doing it - but at certain times they need help with that, for sure."