Tom Bloxham, founder chairman of Urban Splash, said nearly one in four workers would be made redundant as part of its ongoing cost-cutting programme.
Bloxham told the Financial Times that 60 of the 250 workers across the group had left or would go soon. The construction division, Urban Splash Build, is believed to be the hardest hit, although Bloxham gave no details of where the cuts would be made.
Bloxham and Jonathan Falkingham, chief executive, started the firm 15 years ago with Concert Square in Liverpool. The business is now headquartered in Timber Wharf in Manchester's Castlefield.