Stockland Ltd has cut 80 jobs as part of its renewed focus on cust-cutting, The Australian Financial Review reports.
The newspaper reports the group is aiming cut gross overheads by 10 per cent in 2014 - half in staffing costs and the remainder in better processes and a national approach to procurement.
Last week, Stockland said it was expecting its full-year earnings per share to come in at the lower end of its guidance, because of costs associated with a restructure of the group.
The group also revealed a $49 million impairment on previously impaired residential projects, reflecting further analysis and, in some instances, divestment negotiations.
"A material amount of this additional impairment relates to a court appeal, where we have assumed the worst outcome," the group said, at the time.
"No additional material impairments are expected unless trading conditions deteriorate significantly."
Stockland shares closed the previous session at $3.92.