The Housing Corporation is understood to have begun the planned cull on the investment side of its business.
Under chief executive Norman Perry’s review and restructuring of the quango, it is cutting up to 40 positions. Staff are being reassigned or will reapply for their jobs as part of the efficiency drive.

Housing Corporation assistant chief executive Jackie Green said: “The restructuring of the investment division is only one aspect of the ongoing programme of organisational improvements started last year. Where change impacts over our current staffing arrangement, we will work with staff to manage that change.”