Lend Lease UK construction chief Michael Dyke is leaving the firm, while 90 jobs are also at risk across the UK and European business.
Mr Dyke, the managing director of construction in Europe, the Middle East and Asia, is leaving after joining the company from National Grid in September 2011.
The 90 positions, understood to be mostly in support roles, have come under threat following a strategic review by Simon Hipperson, who was announced as new chief executive of the EMEA business last August.
There are 2,500 people employed across the region, mostly in the UK.
A spokesman said the company is streamlining its overheads “to maximise cost-effectiveness”.
It is understood that commercial director Tom Spilsted, operations director Simon Parham and senior legal counsel Alistair Cutts are also leaving the company.
Among the company’s current projects is the £1.5bn regeneration of the Heygate Estate in Elephant and Castle, which received planning approval from London mayor Boris Johnson in March.
The contractor and developer announced in February that it had boosted its European profits after tax by 40.7 per cent to £60.5m, as profit across the group grew by 37 per cent to £201m.
However, in November last year Construction News reported that the firm had shed 500 UK staff, cutting numbers from 1,380 to 878 in the 2012 financial year, with staff costs reduced by almost a quarter from £97m to £74.7m.
A Lend Lease spokesperson said: “Like any agile and forward-looking business, we are continuously reviewing how we work to ensure our development, construction and investment management operations are as integrated and effective as possible in order to deliver the best value for our shareholders and partners.
“We are streamlining our central overhead to maximise cost-effectiveness, to ensure that our projects have the optimal level of support and to position Lend Lease for continuing growth in the region.”
Mr Hipperson was former infrastructure investments chief at Skanska. Mr Dyke had told Construction News last year that Lend Lease was looking to expand into infrastructure.