The Shaw Trust has abandoned plans to relocate to Swindon.
The trust, which is the largest voluntary sector provider of employment services for disabled people, had considered relocating from its current headquarters in Chippenham, Wiltshire.
But the organisation, which made a loss of £2.8m in 2008/09 and recently appointed a new chief executive, said in a statement this was no longer an option. It said it had outsourced its internal audit function but denied it was planning redundancies.
"We are currently looking at a range of business efficiency options that will allow us to improve the proportion of our charitable funds directed to front-line services," the statement said.
"The decision not to move to Swindon was made in that context. We have made other efficiencies by actions such as improving our procurement arrangements in a number of areas.
"We have recently, in line with good audit practice and good governance, outsourced our internal audit function."
The statement added: "There are no planned job losses at the Shaw Trust and any suggestion that there will be is pure speculation."