The factory manufactures printing blankets and has made an operating loss of more than £1m in 2015.
Flint Group said it was experiencing “significant and worsening” losses because of the decline of the printing industry, and that a consultation process will now be held with employees and unions.
The group is planning to shift the workload from Dundee to its two factories in the United States.
David Wood, Flint Group’s operations manager in Dundee, said: “We’re extremely disappointed to have to make this announcement today, especially since our team in Dundee has worked so hard to improve our cost and delivery performance.
“The structural changes in the marketplace are clearly irreversible and demand for our products is falling fast as digital innovations continue to drive people away from print media.”
The group also said technology advances have served to replace previously printed materials.
The Luxembourg-based group said it will now launch a 45-day consultation period with affected staff.
The company was reportedly considering cutting staff in 2012.