Sturrock said: "I've discussed it with the owners and I'll be talking to several players over the next couple of days, making them realise the situation we are in.
"We just can't carry the squad we are carrying.
"Players might have to leave on-loan, or some of them come out of their contracts.
Even after the cuts Swindon will still lose between £800,000 and £1m a year. Sir Seton Wills and his son James have to keep funding the clubs loses each year, and paid the players last month.