American Century Investments will eliminate 17 percent of its roughly 1,600 jobs within the next two weeks, according to company spokesperson Chris Doyle.

Most of the 270 job cuts will occur in Kansas City, Missouri, with smaller cuts at its Mountain View, California, office and none at its New York office. The cuts will be across the board, Doyle said.

The company has about 1,400 employees in the Kansas City area.

Doyle said the company looked everywhere it could for cuts before committing to layoffs.

“It was inevitable that we were going to have to cut employees in this round, just given the severe pullback in the market,” Doyle said. “We haven’t been hit too much in the way of redemptions, but if assets under management are eroded, that has a direct impact on our ability to generate revenues.”

American Century has lost $14 billion in assets under management since May. The private mutual fund company had $84 billion in assets under management as of September 30th.

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