Lendlease is cutting 10 per cent of its global workforce as the real estate giant works to implement a five-year turnaround plan.
A Lendlease spokesman on Tuesday confirmed the company will lay off about 740 people.
Overseas workers will take the brunt of the job losses, with five per cent of the company's Australian staff receiving redundancies.
The spokesman declined to state how many people that would be in Australia.
Linkedin profiles indicate Lendlease has 6253 employees living in the country, which would mean more than 300 job losses.
"It's never easy making decisions that directly impact our people," global CEO Tony Lombardo said in a statement.
"However they're absolutely necessary in order to generate more resilient returns for our securityholders and sustainable careers for our ongoing workforce."
The headcount reductions will not impact project deliveries, targets for work in progress, completitions or funds under management, Lendlease said.
The company is two years into Mr Lombardo's turnaround plan.
