You've had enough years of Premier League revenue. You've had European success," said Neville.
The pundit stressed that strategic planning and immediate communication are vital for the hierarchy moving forward. "It's about stabilising beyond this.
They have probably planned for this for a number of weeks. You'd have to, not just financially but also because of resources and personnel," said Neville.
He concluded his analysis by focusing on the public relations steps the club needs to take.
"It's important they get some good PR messages out there quite quickly," said Neville.
According to reports from The Guardian, West Ham co-owner David Sullivan is minded to make a change.
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Former Burnley manager Scott Parker and Strasbourg's Gary O'Neil have been identified as potential candidates if Nuno departs.
