Gatland, 61, has presided over statistically the worst Wales side in their 144-year international rugby history, slumping to a record 14 successive Test match defeats, with a 22-15 defeat against Italy in Rome last weekend.
The New Zealander previously enjoyed a successful 12-year spell as Wales coach which included three Grand Slams, two World Cup semi-finals and a record run of 14 victories that led to Wales briefly topping the world rankings.
Gatland left after the 2019 Rugby World Cup before returning for a second stint in charge when he replaced Wayne Pivac in December 2022.
Since then Gatland has overseen six victories and 20 losses in 26 Tests, with a win ratio of just 23%. Wales have also slumped to a lowest position of 12th in the world rankings.
Over both spells Gatland has been in charge for 151 games with his overall record standing at 76 wins, 73 defeats and two draws.