The Jaguars waived Austin on Tuesday, Adam Schefter of ESPN reports.
Austin signed with the Jaguars in May as an undrafted free agent out of Notre Dame, where he led the Irish with 888 receiving yards and seven touchdowns during his final collegiate campaign. He caught one of three targets for 21 yards across three preseason games and now finds himself among a wave of cuts ahead of Tuesday's 53-man roster deadline.