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ESPN is preparing for job cuts to start next week as part of a cost-cutting plan from owner Disney.
Sources say the layoffs will affect some on-air talent and management.
However, the number of jobs lost at ESPN has not been revealed, and the decision-making process is still in flux.
Read More: ESPN layoffs loom that would impact nearly all divisions
Disney is cutting 7,000 jobs in three stages, and sources said the second batch will start next week.
It was reported the company will also cut around 15 percent of employees in its entertainment unit in the coming week.
The first wave of layoffs at Disney happened last month, which comprised its metaverse strategies team and a part of its Beijing office.
Read More: Disney managers asked to make lists of staff to be cut as 4,000 layoffs loom
Disney is reducing costs under CEO Bob Iger in order to build up free cash flow as streaming losses continue.
ESPN plans to renew its contract with the National Basketball Association and will likely pay a large premium above the $1.4 billion per year rights price it now pays the league.
Earlier this year, Disney announced efforts to save $5.5 billion in costs, including $3 billion in content spending.
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In 2020, ESPN cut almost 300 staffers.
Disney reorganized earlier this year, and ESPN's financials will be released as a separate division for the first time.
The change will give a clearer picture of ESPN's operations.
An ESPN spokesperson declined to comment.
Source: CNBC
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