Among those who have had their contracts terminated are high-earners Fabrizio Ravanelli, Craig Burley, Fabian Caballero and Georgi Nemsadze.
Dundee was forced into administration yesterday, with Tom Burton and Fiona Taylor of Ernst & Young appointed as joint administrators to run the club.
He said: ‘Our priority is to move the club as quickly as possible towards the position where it can survive as a going concern.
‘We have taken the first step towards this end by ensuring that Dundee Football Club has sufficient playing staff to fulfil its commitments whilst taking action to significantly reduce the cost to the club.
‘The effect of reducing the numbers of full-time staff by a third has served to reduce the club’s wage bill by 45%.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies