After taking an early lead through an Adrian Mariappa header, Palace were caught out by two stunning volleys from Pajtim Kasami and Steve Sidwell as the visitors went in ahead at half-time.
Things went from bad to worse for Holloway and his side after the interval as two goals in five minutes, courtesy of Dimitar Berbatov and Philippe Senderos, took the game well out of sight of the hosts.
Holloway, who who is now 2/5 favourite with Sky Bet to be the next Premier League manager to leave his post, revealed he spent a long time with his players following the defeat before meeting Parish for a lengthy discussion, the details of which the 50-year-old wished to keep to himself.
Ian Holloway: "We talk all time.
"I'm not going to talk about what we just spoke about to be perfectly honest. I'm not talking about my future at the football club, I'm talking about the football club and that is all I have ever done.
"I will be speaking to him tomorrow morning when the lads are in.
"It is about what is right for the football club and that is what it will always be about between me and Steve.
"We were having a meeting anyway, we always do when we are having a warm-down. We will talk about some bits and pieces and learn from it. That is the meeting and that is what we always do.
"We have lost five games since we announced the 25 [man-squad] and there is something wrong there.
"I don't think we have got the same spirit, maybe we changed too many, but that is the squad we have until January so they better buck up and stick together."