According to a trading update made to the stockmarket, jobs will be lost across the company including its central division in order to ensure the group ends its financial year on March 31 "profitable and cash generative".
The company warned that profits for the year would come in 50% below expectations.
Mark Smith, chief executive of TMN, told Brand Republic that staff were currently in a consultancy period: "We're cutting the areas where the recession bites most and not cutting them in the areas where the recession doesn't bite at all.
"[Online] display advertising is the worst hit right now. Across the market there's a huge amount of inventory and it's being offered extremely cheaply by a lot of people ... We're just scaling back until the market comes back."
Smith added the company was seeing "extremely strong results" in performance-based advertising, which includes its AffiliateFuture division, "through improved management structure".
In research, the survey and panel division is under review and is likely to lose a number of roles, but the qualitative division does not face any cuts.