Around 133 positions are expected to be lost as consultation begins today (22 January), which would leave just 37 of the 170-strong workforce still in employment.
Cambridge University Press said that with 80% of its publishing sales located in countries outside the UK, there was an increasing need to offer improved turnaround times and cheaper transport costs.
Through the reorganisation, the Cambridge Printing Services arm will become printer to the European part of the Cambridge University Press' publishing operation.
In a statement, it was claimed the printing division, which has a 425-year-old history in the area, "is unlikely to make a profit in its current form".
Stephen Bourne, chief executive at Cambridge University Press, said: "We know that this is an incredibly difficult time for those staff that are affected, and we will be doing all we can to support them through these changes."
He added: "To enable us to support the areas in which we are genuinely strong, we need to divert resources away from areas that are less promising."
Unite national officer Ann Field said the decision was "completely unacceptable" with the union set to oppose the move to the best of its ability.
She said: "It's a massive loss, especially at this time and we will be demanding meetings, starting from next week."
Around 25 positions are also at risk in the 50-staff Cambridge University Press' UK Education publishing business.
130 print jobs at risk as Cambridge University Press begins consultation
More than 130 jobs at Cambridge Printing Services have been put on the line after Cambridge University Press, the world's oldest continuous serving publisher, entered into a 90-day consultation period with its staff.
