The 32-year-old was relieved of his duties just minutes after the club's 2-1 defeat at Bristol Rovers, bringing to an end his near four-year association with the Pilgrims.
And the former Crystal Palace midfielder will now take time to ponder his future and spend time with his family but having only hung up his boots 14 months ago, and still six months away from his 33rd birthday, he admits he is not ruling out a playing return.
"You never know - I might go back and play," he told the club's official website. "I've seen some players in teams in this division and others, and I sometimes think I still might be able to earn a living that way.
"I'll see how I feel, whether I want to retire. Sometimes you think 'is it worth the hassle?'
"All the stress, the late nights and the work. I don't know. I'll have a bit of down time. I've never really had down time at all since I was about 16. It's been football non-stop.
"I'll spend some time with the family and let everything settle down."
Fletcher was visibly emotional when he spoke to the press shortly after being told of the board's decision and he was quick to wish the Argyle players all the best for the rest of the season.
"It's a real good football club that has been through some real tough times. But hopefully it's going the right way - on and off the pitch," he said. "It's tough when you speak to the players; they've put a lot in and we've been through a lot together.
"There's some real good players in that changing room. Some real good characters. I wish them all the best. They've got some good quality and are still young. They've got a real chance in the future."
- Sports & Recreation