Waddle said: “Everyone in the country wants to see the back of him after what happened with England.
“It would not be a popular decision with the Toon fans – and I’m sure fans of other clubs don’t want to see him get a job here either.
“It would be a massive gamble – and one I don’t think Freddy Shepherd will take right now.”
He added: “I don’t think there’s any need for them to press the panic button.
“Glenn did a great job getting them into Europe and although the results haven’t been good this year he can still turn it around.
“There’s no sign that he’s lost the dressing room and he deserves to be given more time.”