Yeah he did really bad with Swansea after they got promoted. He also has one of the toughest jobs in football so yes he could be sacked but not cause he's an awful manager. (I'm not a fan of him particularly, he's probably egotistical and rigid, but his record isn't bad)
Edit: I realize that first line didn't come off as sarcastic as I meant it
What is tough about inheriting better players than those at Swansea, having a bigger budget than Swansea? Frankly, it is a dream job. He should have done better than Dalglish, but he didn't. If he can't do it better this year, he is out.