Unai Emery was reportedly cornered by Arsenal owners Raul Sanllehi and Edu following the club's 2-2 draw with Southampton on Saturday.
The Gunners were highly criticised for a poor performance that saw Alexandre Lacazette net an injury time equaliser in a game that the visitors should have comfortably won.
Arsenal have now managed one win from their last seven games, with their last Premier League victory coming 50 days ago.
According to the Daily Mail, Sanllehi and Edu both held crisis talks with Emery in the tunnel following the result.
It was reported after Arsenal's 2-0 defeat at Leicester City that Emery would be given a month to turn the club's fortunes around.
Reports have claimed that Massimiliano Allegri and Mikel Arteta are being lined up as potential replacements should results fail to improve under Emery.
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