May Gurney has made more than 50 redundancies due to the slowdown in the housing market.
The Norfolk-based firm said it regretted the 56 job losses, but that the company's overall prospects were "positive".
The redundancies, which represent just over 1 per cent of the firm’s 5,000 UK employees, affect those working in the private-sector housing and civil engineering sectors.
May Gurney is to scale back work in its ground piling and civil engineering operations as a direct impact of the slow-down in the private sector housing and construction market.
Chief executive Philip Fellowes-Prynne said: “The prospect of job losses is very disappointing and our thoughts are with those for whom this proposal will be unsettling and who may, ultimately, be directly affected.”
More than 90 per cent of May Gurney’s business is in long-term maintenance, enhancement and support partnerships with local Government and regulated industry customers.
The company’s secured and framework forward order book is now £1.25 billion.
Mr Fellowes-Prynne added: “The overall prospects for May Gurney are positive.
“The company's financial performance for the first half of the year has been in line with expectations and with high visibility of earnings, a good cash position and clear opportunities for growth in its core markets, the company remains confident about business prospects for the current financial year and beyond.”