Bath & Swindon, UK-based Thring Townsend Lee & Pembertons has begun a 30-day period of consultation with employees across its offices.
The firm plans to close branches in Cirencester and Marlborough, and move all staff from the two towns into its offices in Swindon.
Managing partner Thomas Sheppard said the cutbacks were the “only option” to protect the majority of its 380 staff.
Thring Townsend also has offices in Bristol and London.
The redundancies will be made across all levels of the business, which specializes in the private client, agriculture and commercial sectors.