The ABC and SBS are facing combined job losses as high as 400 to 500 people, while the pay-out figure from the expected cuts will run into the tens of millions of dollars.
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The cuts to the two broadcasters' workforces will hit content makers, back office and services staff. The ABC reported 4679 full-time equivalent employees in 2013-14, while the SBS had 1301 staff.
The ABC shed about 72 jobs earlier this year from its international division, a move that cost the broadcaster $10.7 million according to its annual report. But sources have told Fairfax Media this round of redundancies was expected to cost less per person, with the payouts by the broadcasters expected to be in the vicinity of $25 million.
Fairfax Media reported on Tuesday that the ABC and SBS are bracing for swingeing cuts of up to $200 to $300 million over five years in the mid-year budget update, with sources from the broadcasters and government confirming the magnitude of the cuts expected.
As well as job cuts, a range of programs could go and the two broadcasters will be encouraged to make savings on transmission contracts, distribution costs for TV catch-up services SBS On Demand and ABC iView and contracts for services such as mobile phones. The ABC's 11 foreign bureaux could also be scaled back.
Several sources at the broadcasters said the final job cut figure had not been settled but internal expectations were of a combined 400 to 500 people. The issue of how the redundancies will be funded has not yet been resolved.
The details of the cuts will be contained in the mid-year budget update, due in the second week of December, but it is expected the formal announcement will be brought forward by government.
ABC director of television Richard Finlayson, who announced the ABC's 2015 slate of programs on Wednesday, said the broadcaster was "looking forward to ending the uncertainty" about the budget cuts.
"I'm really not in a position to comment on the cuts at the moment," he said.
"We're going to find out very soon ... we're encouraged that the minister is looking to make an announcement in the near future and as soon as we receive official confirmation we'll be able to make a full response.
"[2015] is about us using the resources we have as effectively as we possibly can."
Labor communications spokesman Jason Clare said the cuts to the two broadcasters represented another broken promise from the Abbott government.
"Tony Abbott is a liar. The night before the election he promised no cuts to the ABC and no cuts to SBS and that's what we were expecting," he said.
"Malcolm Turnbull has also said this would all be back office cuts but now we are hearing this will lead to hundreds of sackings and lots of shows being cut as well."
In September, Mr Turnbull was asked about the prospect of 500 to 600 staff being cut from the ABC alone and how that would affect programming.
The Communications Minister said that would depend on who the staff were "and of course the ABC is not a workers' collective. Right? It is not designed to exist for the benefit of its employees."
The public sector and media unions will next week launch a campaign against the proposed cuts to the two broadcasters.
Opposition Leader Bill Shorten, deputy leader Tanya Plibersek and figures from the arts and journalism communities will join the campaign and there will be rallies around Australia.
