Pacific Investment Management Co., the mutual-fund firm that used to oversee the world’s biggest bond fund, is planning job cuts after last year’s ouster of co-founder Bill Gross led to a steep drop in assets, according to reporter Charlie Gasparino.

Pimco’s assets have fallen 21 percent to $1.5 trillion since Gross left the company in September 2014, Gasparino said on the Fox Business website.

The decline in assets has led Pimco’s senior management to consider trimming its staff of 2,400 people, he reported, citing unnamed sources with direct knowledge of their plans. No final decision on cuts has been made, Gasparino said.

Pimco owner Allianz missed its second-quarter forecast for operating profit as its asset-management business weighed on results, according to The Wall Street Journal.

Gross used to oversee the Total Return Fund, which reached a record high of $293 billion under management in April 2013. The fund reported assets of $98.1 billion as of August 31, the first time below $100 billion since 2007.

Gross joined Janus Capital Group Inc. a year ago as Pimco prepared to fire him, the WSJ reported. Investors had pulled about $65 billion from the Total Return Fund before he left.

Gross now runs the $1.47 billion Janus Global Unconstrained Bond Fund, which has declined 1.8 percent this year, better than 52 percent of its peers.

The Vanguard Total Bond Market Index Fund is now the biggest bond fund with $118.4 billion in assets at the end of July. It gained 0.5 percent this year, ahead of 64 percent of peers.

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