McClaren is yet to win a Premier League game while in charge of Newcastle and saw his side surrender a 2-0 lead against Chelsea on Saturday evening.
But Lawrenson thinks his job is safe. He also believes Alan Pardew left Tyneside for Crystal Palace because he 'saw it [Newcastle's struggles] coming.' Pardew has since impressed hugely at Crystal Palace.
Lawrenson told the BBC: "Why do you think Alan Pardew left? He saw it coming. I think they will stick with Steve McClaren because you sack the manager and it doesn't work, they just keep sinking and sinking and sinking."
The claim that Pardew left Newcastle for Crystal Palace for that very reason has been made before, of course, but Lawrenson's McClaren theory is an intriguing one.
The Magpies certainly put up a fight against Chelsea and showed huge improvement. But to drop points from 2-0 up at home is unforgivable whoever you are playing.
It sums McClaren up in a nutshell - even if he is to achieve some sort of future success with Newcastle. He is a soft touch and can't see things out. This game was, in fact, a microcosm of his Derby County career.
Still, if the Tyneside outfit can continue to play as they did for the majority of the clash against the Blues, there may yet be hope for the coach. If.