According to the survey, the investment management industry experienced the fastest decline, with the insurance brokerage industry being the only bright spot as investors held cash during the turbulent market.
"The alarm bell for optimism in the financial services industry has reached deafening proportions," said Rain Newton-Smith, chief analyst at CBI.
The survey shows that the employment decline in the financial services industry is the fastest in four years, mainly affected by the layoffs in the banking sector. Banks have cut their outlets and shifted jobs overseas to reduce costs.