Peaks & Plains, which owns and manages 5,000 homes across East Cheshire and employs 250 people, has entered a period of consultation that could see up to 25 positions made redundant.

The news follows Gentoo’s warning last month that it must make a number of “inevitable redundancies” as it looks to make up an estimated shortfall of £72 million.

Chancellor George Osborne outlined in his Budget speech in July that housing associations in England must reduce their rents over the next four years.

The rent cuts will equate to a £9m loss of revenue for Peaks & Plains over that period.

Peaks & Plains chief executive Tim Pinder said: “It is with deepest regret that I announce that Peaks & Plains is reviewing a number of positions within the organisation at risk of redundancy.

“The reality of these new financial pressures is forcing everyone in social housing to take difficult choices, and as a result the board has acted quickly and decisively to secure the future of the business.

“As a business we will continue to strive to improve the lives of our customers through increased focus on delivering high quality day-to-day landlord services and continue our plans to build 250 new affordable homes over the coming years.

“Regrettably that may mean some job losses in the short term. It’s a sad day for the Trust and I would like to take this opportunity to say a huge thank you to all our staff for their commitment, enthusiasm and dedication.”