The construction engineering group has told its 250 strong workforce that is plans to cut as many as 60 jobs in the next few weeks.
Staff were notified of the job cuts last week, which are expected to impact on key divisions like Bourne Steel and Bourne Engineering.
Steve Govier, chief executive of Bourne Construction Engineering, said the restructuring measures would ensure the ongoing stability and success of the business, and create a solid platform to grow the business from as demand returned.
The steelwork contracting sector has been badly hit by the downturn in work and fierce bidding for work.
In the last few months the industry has been rocked by a string of failures as orders dry up.
These include F J Booth in the North East, Midlands Steel Structures and D A Green. In the Merseyside region Royden Steel failed but was later resurrected as Royden Structures, while in Derby contractor Robinson has been put up for sale.