Gleeson Homes will reduce its roles by 15% under a restructure aimed at cutting overheads by £4m a year.

The housebuilder, which specialises in urban regeneration, is reorganising its business in a bid to become more ‘lean’ and ‘efficient’. It follows half-year results today showing pre-tax profit fell 34% from £24.7m to £16.1m for the six months to 31 December while turnover dipped 1.4% to £171m.

Graham Prothero, chief executive of Gleeson told Housing Today there would be a reduction in headcount of around 15% from its figure in November, the point at which the firm implemented a recruitment freeze.