Perrin is set to be replaced by his assistant Christophe Galtier.
The 53-year-old Perrin was appointed St Etienne coach in November 2008 after spells at Ligue 1 clubs Troyes, Olympique Marseille, Sochaux and Olympique Lyon, and Premier League Portsmouth.
St Etienne, France's top team in the 1960s and 70s, lie 17th in the standings, only three points clear of relegation.
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