‘Cost cutting’ claims Seven’s head of sport SAUL SHTEIN

Employees at Channel 7 were sent into a spin this morning with word the axe had fallen on a high profile executive.

As first revealed by TV Tonight Seven’s Head of Sport Saul Shtein will depart the network once the AFL has concluded.

“We’re very grateful for all his service over the last 15 years with the network,” a Seven spokesperson told Mumbrella

Shtein had worked at the network for 15 years and insiders have told TV Blackbox the move was part of a cost cutting exercise initiated by newly installed CEO James Warburton.

The network is looking at ways of saving money after announcing a $444.4m loss in August. Many senior positions are said to be under scrutiny due to the large pay packets afforded to Seven’s senior team, which in most cases are higher than rival networks.

Warburton has declared that he is not going “cost cut” his way to success” according to Mumbrella, but reducing executive pay packets will allow the network to spend more on programming. Indeed, Warbutron himself is on less than his predecessor Tim Worner.

Sources at Seven say there is a new energy with the newly installed CEO and workers on the ground will be pleased to hear any cost cutting is hitting those at the top, rather than the workers who actually makes the shows.