US - AllianceBernstein said it cut more than 200 jobs in the first quarter, with more cuts to come, in a bid to reduce costs.
Of that, 31 were investment professionals - described as analysts, portfolio managers, chief investment officers, directors of research and traders.
Another 75 redundancies are expected during the second quarter, though those affected will largely be non-investment staff.
In 2008, the firm's assets under management declined 42% to US$462bn at the end of the year, from $800bn at year end 2007.
According to AllianceBernstein's 2008 annual report, $294.2bn of the drop was due to market depreciation with $44.2bn coming from net outflows.
Asset managers across the board have been cutting staff as they seek to right-size their businesses after severe market losses or outflows.
Last week, Western Asset Management Co. announced a 10% staff cut though no senior portfolio managers were let go and the bulk of the job losses came from administrations and operations across the firm's New York; Pasadena, California; Sao Paulo; Tokyo; Singapore and Melbourne offices.
BlackRock and Fidelity have also made similar moves.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point