Property developer Mirvac is cutting more than 75 jobs as it simplifies its business to deliver up to $15 million in annual savings.
The company behind major residential, office and retail developments says the job cuts will be made across various parts of its business, and will occur in the next six to nine months.
Mirvac will outsource some of its finance functions, reduce the size of its corporate and business operations and streamline several processes and procedures after completing a three month review of its operations.
The changes will incur one-off costs of about $11 million, more than half of which will be recognised in its results for the 2014/15 financial year.
"Implementing the outcomes of our operating model review will see us become more agile and better placed to leverage our unique capabilities across the office, industrial, retail and residential sectors," chief executive Susan Lloyd-Hurwitz said.
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