Portsmouth have named Richie Barker as their new manager and Steve Coppell as director of football.
Wigan have announced Uwe Rosler as their new manager after agreeing compensation with Brentford.
Wolves chairman Steve Morgan has admitted that the club have not made any financial plans for relegation to League One.
The Midlands club currently sit second from bottom in the Championship after a run of thirteen games without a win, and manager Dean Saunders has yet to register a single victory since taking charge.
Wolves, who were relegated from the Premier League last season, have a wage bill of £25million, with chairman Morgan revealing that the club are losing £6.5million per year. Financial issues would only increase if the club suffer a second successive relegation.
"It's up to us to make sure we don't get into a tailspin," Morgan said.
"The contracts were all done when we were in the Premier League. There was no question or thought about going into League One.
"None of the contracts take that into account."
Wolves face Millwall on Tuesday night before travelling to the City Ground on Saturday to face Nottingham Forest.