The Simpsons told to cut back or face the axe

The long-running cartoon series has stumbled into financial hot water, according to 20th Century Fox, and has been ordered to cut costs if it wants to have a future.

'Twenty-three seasons in, The Simpsons is as creatively vibrant as ever and beloved by millions around the world,' a representative for 20th Century Fox said in a statement to E! News.

'We believe this brilliant series can and should continue, but we cannot produce future seasons under its current financial model. We are hopeful that we can reach an agreement with the voice cast that allows The Simpsons to go on entertaining audiences with original episodes for many years to come.'

The Daily Beast reported that the show’s principle cast members could have their $8million salaries slashed by up to 45 per cent.