Fannie Mae (FNM) plans to lay off several hundred employees from its Washington, D.C., headquarters and boost staff working on foreclosure prevention in other locations, the latest sign of how the company's priorities have shifted since it was thrown into conservatorship last fall.

Fannie said its Dallas operation, where it has centralized its foreclosure prevention efforts, is one of the units that will see its staff grow, the company said Friday in a statement. However, overall staff levels will remain roughly the same in 2009 as in 2008 at around 5,500.

"Fannie Mae is taking steps to realign the company's organization, personnel and resources to focus on our most critical priorities, which include preventing foreclosures to help keep people in their homes and aiding in the recovery," the statement said.

Freddie Mac (FRE), which was also seized by the government last fall, has directed many employees, mostly in its regional offices, to refocus their efforts on foreclosure prevention, company spokesman Doug Duvall said.

Freddie began to overhaul the duties of dozens of employees last year, Duvall said, though the company has not cut staff significantly at its McLean, Va., headquarters.

-By Jessica Holzer, Dow Jones Newswires; 202-862-9228; jessica.holzer@dowjones.com

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