Fifteen members of staff at Cheltenham College are to be made redundant.
A spokesman at the independent school said the action was needed to help save money and keep fee increases to a minimum for parents.
The school, which has annual fees of £27,000 a year, currently has around 1,000 pupils and 500 full and part-time teaching staff.
The headmaster of the college, John Richardson, said he was hopeful that he will not have to make further job cuts.
The jobs loses are likely to to include 10 full and part-time teachers as well as five support staff.