The job losses are understood to be focused on the central London based Berkeley Homes Capital division which oversees some of the largest regeneration projects in the capital.

One source said: ”It has been a bit of a cull with senior managers being let go and demoted as part of a consolidation exercise with projects being moved under other operating divisions.”

Another added: “People have been dropping like flies here over the last few days with quite a few directors going.

“The mood is pretty sombre around the office.”

Berkeley declined to comment when contacted by the Enquirer.