The Christine Bleakley and Adrian Chiles-fronted show currently attracts an average 700,000 viewers, short of what its predecessor was achieving before it was axed last year.
"It's back-to-basics time," an insider told The Sun. "The feeling is it needs to go back to the GMTV format of the warm tones. It's been on air nearly a year and still can't pull in the numbers we thought it would."
However, ITV boss Adam Crozier has insisted that the programme will not be rebranded.
"Daybreak is the brand and the name. I don't think that's the issue," he said. "We've moved it into ITV Studios, where we make all our daytime programmes.
"We're looking for a new editor. When we find one we'll look at it. We want to see it improve but it's coming from a stable base."
Ian Rumsey, who recently announced his exit, will remain in his current role as editor until a replacement is found.
> Adrian Chiles 'Daybreak' presenter role reduced
> Adrian Chiles, Christine Bleakley 'Daybreak' axe 'would cost £4m'