Fed gov ripping guts out of ABC: Labor

Peppa Pig's bacon is safe for now but federal Labor warns the guts are about to be ripped out of the ABC.

Communications Minister Malcolm Turnbull says the national broadcaster will face five per cent cuts over five years.

He denies the government is breaking an election promise and maintains savings can be found from administration cuts rather than cuts to programming.

But opposition communications spokesman Jason Clare has accused Mr Turnbull of weasel words.

"They're cutting the guts out of the ABC," he told ABC TV on Tuesday.

"Julia Gillard was crucified for breaking one promise. Tony Abbott is a serial offender, he's broken every promise he made before the election."

Mr Clare said any savings from back office efficiencies should be channelled back into the ABC to invest in programs and content.

Media Watch reported on Monday night that 400-500 jobs will go at the broadcaster by the end of the year.

It said state versions of 7.30 will face the axe, along with a scaling back of Lateline and closures of ABC bureaus in Bangkok, New Delhi, Tokyo and New Zealand.

Mr Turnbull flagged he would have more to say on the matter later this week.