McDermott had steered Leeds into a play-off place before Christmas, but they have taken only two points from their last five league matches and crashed to their biggest defeat in 55 years at Yorkshire rivals Sheffield Wednesday on Saturday lunchtime.
Leeds' 6-0 thrashing at Hillsborough followed the previous week's embarrassing FA Cup defeat at Sky Bet League Two side Rochdale and McDermott called his players in for a crisis meeting at the club's Thorp Arch training ground on Sunday.
"How much pressure does this put on me? I put pressure on myself," McDermott said after Saturday's debacle.
"It obviously puts pressure on you as a manager and as a team and a group of staff if you get beaten the way we did here.
"I want to be part of something special at Leeds, but at this moment in time it's a struggle.
"I just hope that all of us - the owners, the players, the staff - pick ourselves up, which we will do and move forward again.
"We've got Leicester coming to our place on Saturday, it's a great game and I'm looking forward to it."
Leeds are hoping to announce the completion of a second takeover in little over a year before the end of the month with Sport Capital on the verge of buying a 75 per cent stake in the club.
The club's current managing director David Haigh and managing director of Leeds' main sponsor Enterprise Insurance, Andrew Flowers, are part of the group.