The affected staff have been placed in a 30-day consultation which kicked off last week.
Chief executive Barry Meeks says the job cuts are part of a restructure of the business.
He says Pink will be creating 10 new jobs for a new customer service team so it will look to move some of the affected staff over to these new positions.
Meeks says: “We’re in the process of restructuring the business. The network side of the firm is booming so we’ve had to put more people to focus on that side of the business. We’re also investing a lot in technology which has affected a number of roles.”
He also admits that Pink, like other firms, has not been immune to the market conditions and has had to take action as a result.