All staff learned that the national and regional newspaper publisher is reviewing its options, including redundancies, in an internal notice sent around the company yesterday.
Cuts could range between 5% and 7%, resulting in between 550 and 770 jobs being lost.
The cuts are likely to be across editorial and advertising departments, and the National Union of Journalists was told yesterday that jobs would be lost at national and regional newspaper titles.
The Daily and Sunday Mirror has already reduced recruitment of new staff, and last week Press Gazette reported that Trinity Mirror had cancelled staff Christmas parties.
The review is being carried out by chief executive Sly Bailey and follows poor advertising revenues for the national newspapers in the group's first-half results reported in July.
Trinity's five national papers, which include the Daily Mirror and the Daily Record, saw ad revenues slump by 5.4% from £99m to £93.7m, in a market that the company called "unpredictable". In contrast, the regional division saw ad revenues grow 1.5% to £214.1m.
A Trinity Mirror spokesman said: "All media owners are currently experiencing tough trading conditions due to the slowdown in advertising markets.
"We are reviewing a number of possible actions to support our businesses, which may include redundancies, in what is a challenging period for the entire media industry.
"We are currently in consultation with our employees and their representatives and it is too early to give an indication of the likely outcome of this review."
The company's staff number approximately 11,000, according to the spokesman, most of whom are employed in its regional newspaper business, which includes titles such as the Liverpool Echo and the Birmingham Mail.
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