It will now enter a 90-day period of consultation with staff and management.
"The company is committed to retaining people where possible and will examine relocation options elsewhere within the Group," said the company in a statement.
"Trader Media Group regrets any potential job losses, but the re-structure is necessary given the shift in media consumption by motorists and increased competition."
The firm was founded in 1953 in Bedminster by brothers Frank and Austin Wiltshire. It moved to its current location in 1995 and was bought by Hurst Media three years later, which became TMG in 2000.
It operates Man Roland and Rockwell Goss presses and has pre-press and finishing services in-house.
TMG also owns the Apple Web, Warrington and Acorn Web, Normanton web offset print plants. These will not be affected by the restructuring plans at Wiltshire, according to the company.
