Developer Urban Splash is to slash jobs after disappointing sales during the first half of the year.
The Manchester-based company, which specialises in regeneration projects, has begun a redundancy programme, but is declining to say how many of the 280-strong workforce will be axed.
A company statement said: “Urban Splash has announced their intention to consult with employees on a number of job losses arising from the continued deterioration in the UK economy.
“In spite of a buoyant year-end, sales in the first and second quarter continue to disappoint. The company’s substantial mixed commercial and residential investment portfolio remains resilient.
“The changes are especially regrettable given the loyal, hardworking ‘family’ of long serving staff. The company has held off job cuts as long as possible however it is not alone in facing challenges as a result of wider economic circumstance.”
Urban Splash has staff in Liverpool, Bradford, Bristol and Birmingham as well as Manchester.