Yes. To change a player's position, open his profile by clicking on his name in your office and then clicking the "Change Position" tab. Then you can select a new position for the player. All positions cannot be changed to all other positions:
|RB, WR, DB||OL, DL, K, P|
|TE||QB, DB, K, P|
|OL||QB, RB, WR, LB, DB, K, P|
|DL||QB, RB, WR, TE, DB, K, P|
|LB||QB, OL, K, P|
|K, P||QB, RB, WR, TE, OL, DL, LB, DB|
Once you change a player's position, his ratings are permanently changed to reflect this switch and his position cannot be changed again nor reversed. You will not be allowed to completely eliminate all the players at a given position. Additionally, you are limited to 5 position changes per season.