This is reported by talkSPORT who state that despite Wolves' 2-1 defeat to West Ham United on Monday night, O’Neil is set to stay put. Saturday’s game against the Tractor Boys in front of the home crowd is his last chance to salvage his job as the board as well as fans grow impatient.
The loss against the Hammers was their third straight defeat which visibly frustrated captain Mario Lemina who lashed out at Jarrod Bowen and locked horns with Shaun Derry.
Ipswich are on the same points as Wolves and are only ahead on goal difference so far this season. A win would put them in 18th place, potentially 1 point away from Crystal Palace who sit on the edge of the relegation zone.
O'Neil spoke to BBC Sport after the West Ham loss and showed no sign of worry about a potential sacking despite his side being in a rut.
"I am not concerned," O'Neil told BBC Sport when he was asked about his position.
"I am really proud of the group and everything they have given me. I can only ask them to give their best."