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Credit Suisse Group AG of Switzerland plans to cut more jobs at the securities unit and may sell part of its asset management division, according to a report by Bloomberg’s Elena Logutenkova and Elisa Martinuzzi.

Staff reductions, which may occur before yearend, would follow the 500 layoffs announced two weeks ago, although the extent of the additional cuts is unknown. In September, the division employed 21,300.

The bank’s fund unit is “seeking to revive profit after pretax losses of 359 million francs ($302 million) over the first nine months of the year,” they report. “A joint venture or sale of the global investors unit, which includes fixed-income, equity and money market funds with 255 billion francs of assets under management, is being considered.”

Credit Suisse planned 2,065 layoffs so far at the investment bank, which racked up some 6.4 billion francs in pretax losses through September, but they are certainly not alone. Bloomberg data reveals that, worldwide, banks and brokerages have reported more than 150,000 job cuts and $711 billion of markdowns and credit losses since the global financial crisis began last year.

Morgan Stanley plans to shed 10% of its institutional securities staff and 9% of the firm’s asset-management group as client demand falls. Also, UBS AG, plans to cut 2,000 jobs, trimming the number of investment-banking employees to 17,000 by yearend.

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