The Enquirer understands Bristol director Chris Faulkner is the latest boss to part company with the business.
He follows John Rawlinson who’s departure as boss of the West Midlands division was confirmed earlier this month.
Stepnell has now unveiled a “new streamlined corporate structure” to “better address the challenges ahead”.
It will focus on three regions East Midlands (Nottingham), Midlands (Rugby and Bromsgrove) and Southern (Bristol, Wantage, Poole and Southampton).
Tom Sewell will continue as regional director for the East Midlands region, with Adrian Barnes heading up the newly created Midlands region and Rob Speirs acting as regional director for the wider Southern region.
Tom Wakeford, joint managing director of Stepnell, said: “We see positive signs in the UK economy, and we want to focus our resources so that they are at a level where we can be sure to fully recover our costs.
“We will be more selective about the projects that we bid for ensuring that they have the right commercial scope and opportunity.
“We will also continue to review central and regional spend carefully to drive efficiencies.”
He added: “The regional offices will work together to ensure that they stay close to the local supply chain and local suppliers whilst delivering an excellent service to the customer.
“Our board of directors are convinced that this is the right structure going forward to ensure continued long term business success.
“We would like to thank all our employees for their continued support in ensuring this new structure is a really positive step forward for the business.”