People familiar with the matter have told Bloomberg that ESPN is planning to cut as many as 350 jobs, about 4.3 percent of the company's workforce.
The job cuts are due to the rising costs in programming and loss of viewership.
Bloomberg adds that ESPN's action follows Disney's announcement last August that the earnings at its cable networks won't meet the company's forecasts.
Disney cited subscriber losses and currency translation as reasons for not meeting the forecast.
Bloomberg adds that Disney had the second-largest long-term commitment to sports programming behind 21st Century Fox.
Disney's sports programming was at $44.2 billion, before signing a long-term agreement with the NBA.
Bloomberg adds that Disney and Time Warner Inc. have signed a nine-year programming accords in October 2014 that will bring the NBA $24 billion.
The people, who asked not to be identified due to the matter being discussed is not public, told Bloomberg that the cuts will be announced to employees as early as Wednesday.
Mike Soltys, a spokesman of ESPN, said last month, as a response to reports from thebiglead.com that it would lay off its people in the coming months, that they will announce changes to their employees if and when appropriate, according to Hartford Courant.
"ESPN has historically embraced evolving technology to smartly navigate our business," he said. "Any organizational changes will be announced directly to our employees if and when appropriate."
Hartford Courant adds that ESPN has 4,200 employees in Bristol, Connecticut and 7,000 worldwide.
The sports network had laid off 125 people in Bristol and an undisclosed number overall in 2013.
Bloomberg adds that researcher SNL Kagan said that ESPN has lost more than four million subscribers in the past four years.
Among the basic cable channel, ESPN commands the highest price per customer.
Hartford Courant adds that ESPN charges more than $6 per subscriber per month.
