U.S. Global Investors of San Antonio, Texas has cut seven jobs, representing about 10 percent of its workforce, and has discontinued the operation of its 401(k) plan administration subsidiary.

The cuts are in response to the $455,000 loss the publicly held investment company reported for the three months ended Dec. 31. The company's cost-cutting initiatives were announced Feb. 16.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.