In Germany the last two Teams are automatically relegated to the lower league while the third to last team of the higher and the third to the top team of the lower league fight it out in a two match decision.
The relegated Teams usually are in big trouble financially as they have to balance their budgets while loosing a lot of income. If they renegotiate salaries with their players successfully and can increase contributions from their supporters to make up for the loss of TV Money they are in a good position to fight for promotion in the coming year. There are ample examples of Teams getting handed down from league to lower league down to the amateur leagues and never making it back to professional sports. Thats part of the excitement that keeps fans glued to their screens.