The Society said that the job cuts were necessary to cover the rising costs associated with holding shows at its Somerset showground.
It said that a “number” of people had lost their jobs on Monday and that all staff had now been informed.
Chief executive Jane Guise said: “Cost-cutting had become necessary, as the Society is faced with rising costs associated with holding public events and, in recessionary times, it was finding it difficult to produce extra income to cover those costs.
“All staff have dealt with the difficult news with dignity, and sympathy for all those who are no longer in the employment of the Society.”
Chairman Edwin White insisted that the cuts would not inhibit the Society’s plans for the major redevelopment of its showground, which it announced earlier in the year. It is hoped that the £120m investment in the Bath & West Showground will turn it into a major regional attraction, which will boost the local economy and create 1,500 new jobs.
“Inevitably, it will be several years before the benefits of the redevelopment kick in,” said White. “In the meantime, the Society has to ensure it stays in good financial health and continues to generate nearly £200m worth of business for the rural economy”.