According to reports in the Liverpool Daily Post today, Urban Splash which specialises in regeneration projects, may have to lay-off half its 280 workforce to cut costs.

In a statement Urban Splash admitted it intends to consult with employees on a number of job losses.

It said: 

"Urban Splash has announced their intention to consult with employees on a number of job losses arising from the continued deterioration in the UK economy.

"In spite of a buoyant year-end, sales in the first and second quarter continue to disappoint. The company's substantial mixed commercial and residential investment portfolio remains resilient.
 
"The changes are especially regrettable given the loyal, hardworking 'family' of long serving staff. The company has held off job cuts as long as possible however it is not alone in facing challenges as a result of wider economic circumstance."

It added that an announcement would be made at the end of the consultation.

The Liverpool Post also revealed that key developments across Merseyside could be put back months because of the shortage of funds.

Urban Splash has offices in Manchester, Liverpool, Birmingham, Bristol and Bradford.