The Ax man cometh at the Daily News.

Ending weeks of speculation at the troubled tabloid, Editor-in-Chief Arthur Browne on Thursday revealed that he will be making deep cuts in the editorial staff, first looking for volunteers but then maybe having to turn to a round of layoffs.

Sources earlier said that Mort Zuckerman’s paper — which reputedly lost $30 million last year — was looking to shave $6 million in costs through a combination of staff cuts and real estate moves.

“I am deeply pained to write this letter but nowhere near as pained as you will be to read it,” he said in an internal email announcing the layoffs Thursday.

“As you know only too well, the economics of journalism are brutalizing media organizations across the country and beyond. Revenue that was once taken for granted is long gone, forcing the industry to evolve rapidly. Although the Daily News has made remarkably successful strides, we must move still more quickly to serve a growing readership.”

Sources told The Post that over the past year, its digital growth has plateaued while its print circulation continues to erode.

Browne said he would first offer a voluntary severance program with a slightly better package.

In its most recent downsizing, it had only offered one week per year worked.

“Because I have no idea how many applicants will step forward, I am sadly compelled to state that involuntary dismissals could well become necessary before the year’s end,” he wrote. He signed it, “in sorrow while looking forward to the Daily News of tomorrow.”

Sources said that the volunteers have until November 21 to step forward. The severance deal is better for longer term employees, according to sources two weeks for each year of work up to a maximum of 26 weeks. Short term employees of less than six years get a paltry deal, a week per year worked up to a max of 26.