Seven has begun redundancies in its national sales team, according to industry insiders.
Sources say between 40 and 50 people have been made redundant, representing about 25% of the team.
Seven would not comment.
The news follows Seven West Media's (SWM) move to withdraw its earnings guidance over the escalating "uncertainty" relating to the COVID-19 pandemic last month.
The company told the ASX there has been a "material fall in advertising market activity" and the suspension or postponement of productions and events.
The free-to-air network's rights to major sporting events have played an impact on its earnings with the AFL suspending games until the end of May and the Tokyo Olympics postponed.
In February, SWM posted half year statutory net loss after tax of $66.35 million in a "challenging" advertising market.
This compares to a profit of $83.4 million for the same six months the year before. Revenue over the half year to December fell 3.2% to 772.42 million.
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