Peter, who saw his under-17s beaten by Ipswich at Chadwell Heath in the FA Premier Youth Academy play-off semi-final on Saturday, says the news is unsettling.
"We all want to stay in a job, and we all want to work for West Ham, we're West Ham people and we have the club at heart whether it is the first team, the reserves, or the academy, and we want the club to be successful above all else," he admits.
"No one ever knows because when a new manager comes in anything can happen so we are just carrying on as normal until we are told differently."
"It will be a case of getting used to new faces and a new routine, but that's life, that's football, and you just have to get on with it but I think we'll all miss Frank and Harry."
Tony, who started under John Lyall, has worked with half the managers in West Ham's history, and adds: "Whenever anyone leaves a football club it is disappointing, but I don't really know the reasons why; it has happened unexpectedly.
"I'll miss them both, but all good things come to an end. Fortunately at this club it doesn't happen too often.
As regards how the departures will affect the academy, he says: "Hopefully it won't, but you never know; hopefully that gets by on its own merits and performances, and I hope whoever comes in sees that and will leave well alone.
"That is out of my control; but the continuity of the youth set-up is one of its successes and I hope that continues.
"That's been the policy in the past and there is no reason for that not to continue. With the academy set up it's basically two systems within the football club.
"But whoever comes in, I hope he will give the youngsters a chance as has been happening."
Tony admits he does not have a strong view on who should take over, adding: "I have a completely open mind to it but I'm sure whoever comes in will look at the squad and think he has got a lot of good players there."
Tony has helped nurture the likes of Rio Ferdinand, Frank Lampard, Michael Carrick and Joe Cole through the ranks in recent years - and doesn't want to see them go.
But Tony, who knows the youngsters as well as anyone at the club, admits: "The situation with Frank has been well publicised and of course it is very difficult for him with his father and uncle leaving.
"It's a personal decision for Frank and whichever decision he takes it will be a tough one - I have no view on what he should or shouldn't do or what he will or won't do.