Stone King Sewell, which employs 200 people across four offices, has made a total of 16 redundancies, including 10 staff from its Bath, UK HQ.
Workers have been told the volume of work had slowed considerably in the economic downturn.
It is believed its property team has been hit hardest, with eight out of 10 jobs eliminated
Staff were told there were no further proposed job cuts, as bosses at the firm believed actions taken now would protect it in the future.
Stone King Sewell has offices in Bath, Cambridge, Cirencester and London.