Grainger has started making redundancies as it cuts costs and restructures to focus on the rental market.
Those leaving include Derek Gorman, managing director of market rented assets, and Laure Duhot, managing director and head of strategic capital markets. Duhot is expected to leave in the autumn.
Redundancies total fewer than 10. The firm employs around 200 people and is making new hires.
From yesterday: Grainger sees no material impact from EU referendum
In early 2016, the UK’s largest listed residential property company appointed Helen Gordon as chief executive and began to transform the business into a purely PRS operator.
At the same time it said it would reduce its £36.1m of overheads for 2015 by 23.8% to £27.5m for 2017. It sold its German residential and equity release businesses in May and reduced its overheads by £3.6m. A further £5m of savings were also identified.
Under the new structure it has one business dedicated to maximising returns from its rental capacity, as opposed to the previous arrangement, which was split into residential, development, German and equity release elements.
A spokesman said: “In January we set out our new strategy to invest £1.1bn into the PRS by 2020 in order to expand rental income. We set out a plan to simplify the business and reduce our operating costs, and we have made significant progress.
“Included within this was the disposal of our equity release and German residential businesses, as well as an internal restructuring exercise. These changes have led to some loss of job roles, but also to a few new roles within the business.”
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