Karlie Kloss and Doutzen Kroes are out as Victoria's Secret Angels, and sources say it's because there are too many Angels out there and not enough money to feed them.

Page Six reports that despite VS arguing that it's work conflicts that have prompted Kloss and Kroes (third and fifth from the left in the photo at top, respectively) to stop modeling for the brand, it's actually a money thing:

"The money isn't what it used to be," a source told Page Six. "Older contracts like Alessandra Ambrosio were in the millions, now they're like $100,000."

It's likely both: while it once made sense for a model to devote the large amount of time it takes to be a VS Angel, that time commitment seems like it's become literally less valuable:

Money per model has shrunk as the company has hired a larger stable of Angels to walk in their splashy shows and make global appearances. "There used to be just four angels," a source said. "Now there's about eight."

The ladies also have to commit 50 days a year or more to VS, which prohibits them from participating in bigger, better fashion and fragrance campaigns.

VS has always been about mixing older established supermodels with younger fresh faces, eventually phasing out the original names with people they've help make stars in their own right. Still, Kloss and Kroes are still relatively new, and the brand is being pretty defensive about losing them, as seen from comments CMO Ed Razek made on his Instagram account about Kroes leaving:

After I posted the news about @karliekloss leaving VS I got a number of texts asking me why I hadn't said anything about Doutzen @doutzen leaving at the end of last year. Fair question. The simple answer is I should have. Doutzen had a lucrative opportunity in Europe and it would have conflicted with her VS obligations. So, at her agencies request, we released her from contract. There was no conflict. No animosity. None of the nonsense I've read on Instagram. She had a great business opportunity, and I wanted to be fair to someone I adore and respect. That's all. I honestly believe Doutzen is one of the most stunningly beautiful people in the world. And I always will. I have told her that many times. Now you know.

Page Six has "heard" that Alessandra Ambrosio is currently renegotiating her contract as well. The Victoria's Secret Swimsuit Special airs on Thursday.

Image via Gareth Cattermole/Getty