Hastings succeeded Andy Low in the Harlaw Park hotseat in August 2021 and led them to a seventh-placed finish in the league last term.
This season they have reached the semi-final of the GPH Builders Merchants Highland League Cup, with the draw for the last four to be made later this month.
In a statement Inverurie said: “Inverurie Loco Works Football Club can confirm, with regret, that manager Richard Hastings has left Harlaw Park.
“The ex-Canadian internationalist was in charge of the Railwaymen for sixty two matches, with his first match being against Fraserburgh in August 2021.
“Richie always conducted himself with the utmost professionalism and departs Harlaw Park with the warmest of thanks for his efforts. Everyone at the Football Club wishes Richie all the very best for the future.
Applications for the position of Team Manager are now invited, to inverurielocoworksfc@highlandleague.com”
Inverurie Locos part company with Richard Hastings