The satellite component maker says 10 other employees will be transferred to open positions in other divisions at the company.
"The lack of new program opportunities from the Canadian Space Agency in the foreseeable future has forced us to take action," Com Dev chief executive Michael Pley said in a statement.
"The funding situation on the CSA's Radarsat Constellation mission is still uncertain and, if not resolved in the near future, will result in further job losses once development funding runs out later this year."
The Radarsat Constellation project is a three-satellite program that began in 2005. According to the space agency website, satellites are expected to be launched in 2016 and 2017.
The restructuring is expected to cost about $2 million.
Com Dev employs more than 1,250 people in Canada, the United States and Britain.
The firm is headquartered in Cambridge, ON, and has approximately 75 employees in Ottawa, according to Ottawa Technology magazine.