Those sacked include head coach Mick Potter and chief executive Ryan Duckett, who is a member of the club's board of directors.
"This is an attempt to reduce our cash requirements," joint-administrator Brendan Guilfoyle said.
Guilfoyle says the club still intend to fulfil Sunday's Stobart Super League home game against London Broncos and he was due to meet the Rugby Football League to seek assistance.
The Bulls went into administration after the club's directors failed to raise the £1.2million they say was needed to see them through to the end of the season.
Bradford owed around £300,000 to HM Revenue & Customs, who were poised to issue a winding-up petition.
"In the month of July I will need around a quarter of a million pounds to keep the club going and I've got £20,000 maximum in the bank," Guilfoyle said.
"I have made 16 redundancies, including Mick Potter and three coaches. I am looking at fulfilling Sunday's fixture.
"The players have been asked to report back for work at 10 o'clock in the morning and I am going to see the RFL this afternoon to seek their assistance."
The news stunned the Bradford players, with prop Nick Scruton tweeting: "Awful day today. People lives are been (sic) ruined with no consequences. Hope things get sorted soon for everyone's sake."