Parker, 23, signed a two-year, $40-million deal to join his hometown Bulls in July, with the second year being a team option. The decision to move him out of the rotation makes it unlikely that the team exercises the final year, potentially making him a free agent next summer.
Former head coach Fred Hoiberg wanted to experiment with Parker at small forward alongside up-and-coming star Lauri Markkanen. He was quickly pulled from the starting lineup after having difficulty on the defensive end and came off the bench for the first seven games of the season.
Parker eventually started at power forward while Markkanen recovered from an elbow injury, but he was once again pulled from the starting unit upon the Finnish forwards return.
The Bulls fired Hoiberg on Dec. 3 and named associate head coach Jim Boylen as his replacement. They've since experienced turmoil, including a 56-point beatdown at the hands of the Boston Celtics - which reportedly led to several players demanding that the newly appointed bench boss give them more days off.