Former chief executive Gary Warke quit last year after a Further Education Commissioner’s report exposed a £10m deficit over four years.
Up to 231 academic and support full-time equivalent posts at the three sites in Hull, Harrogate and Goole, including HCUK Training, face redundancy.
BA courses are being cut, it is understood. The college said they were introducing a number of new foundation degrees from September.
Anyone on a current BA course will not be affected.
In a statement chief executive Michelle Swithenbank said "some difficult decisions" had to be made.
She said: "We want our learners to have the best possible experience and in order to achieve this success, some difficult decisions have to be made. We need to change the way we do things which is why the Hull College Group team has been looking at new ways of working.
"As a result, a restructure is being put forward which involves a number of proposed redundancies. This potentially will affect up to 231 full-time equivalent posts across our sites in Goole, Harrogate and Hull, including HCUK Training.
"Outsourcing of some services is also being considered.
"Anyone who is affected by proposed redundancy will be offered our full-support and guidance throughout this process, including interview training and counselling. We are also working with major stakeholders to look at redeployment opportunities for our staff."