The group has cited a "continuing and accelerating fall" in ad revenues as the reason for the cuts and it is thought that the company expects to reduce its editorial budget by about 14% by reducing its staff to 500.
TMG's announcement was met with anger by the National Union of Journalists, which said it deplored management's decision to make redundancies and called for the group to explore other means of cutting costs.
But in a memo circulated to staff, Richard Ellis, TMG's executive director of editorial, said that advertising was declining at a faster rate than expected, that most of the job losses would be across production, magazines and pictures, adding that few areas would be unaffected.
The news adds yet more momentum to the redundancy wave washing across the media sector.
Trinity Mirror this week announced a restructuring of its titles in the north-west of England, which will lead to the loss of 78 jobs.
Last week, Independent News & Media announced that 90 jobs were to be scrapped across its 425-strong workforce.
In a separate development at TMG, journalists across the group's titles have agreed to a three-year pay deal that will see them take a 2% pay rise in the coming year, a 1.5% rise in year two and a 2.5% rise in the third year.
The quality newspaper display advertising market is in a poor state and has fallen about 10% since the summer.
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