Wright and McLaughlin took over for Bob Apodaca, who was voluntarily reassigned to a roving coordinator-type role midway through the 2012 season. Eventually, Wright, formerly the team's bullpen coach, was given the title of pitching coach, while McLaughlin was named the new bullpen coach. Under their tutelage, the Rockies got a lot better in 2013, posting a collective ERA+ of 101 after a disastrous 2012 campaign, but the staff took a step back in 2014 by putting up a league-worst 88 ERA+.
Injuries can be blamed to a certain degree, but Colorado's bullpen was awful for almost the entire season. The unit was a strength of the team while Wright was in charge of it, so it would have been interesting to see if he could've been kept around in that role.
The moves were Jeff Bridich's first in his role as the team's general manager. He and his staff will conduct a search for replacement pitching and bullpen coaches, per the Rockies' tweet.