The Peterhead firm is understood to be aiming to cut the workforce by around 10% as it restructures to cope with an expected downturn in work.
A month-long consultation period between staff and managers is now under way.
In a letter to employees, bosses said they would do all they could to avoid making more redundancies than were necessary.
The firm said it had battled through a difficult two-year period without making any major staff cuts, but the workload had dipped in recent months.
The Les Taylor Group comprises civil engineering business Les Taylor Contractors, demolition firm J.G. Fowlie, building and skip-hire company Grampian Building Contractors and Mintlaw Transport.
Les Taylor Contractors plunged into the red last year. Accounts showed it made pre-tax losses of £5.7m in 2009 against profits of £4m a year earlier.