Washington  - The investment firm Cerberus Capital Management, which owns the beleaguered car manufacturer Chrysler, plans to cut nearly 10 per cent of its worldwide staff, the Wall Street Journal reported Monday, quoting people close to the operations.

The company employs about 275 investment and operational professionals.

A Cerberus spokesman did not confirm the plans but told the Journal that any action it took would "be consistent with the best interests of our investors"

With auto sales at their lowest in 27 years, Chrysler has laid off tens of thousands of workers and had to beg for a government rescue to the tune of 5.5 billion dollars to stay afloat amidst the year- long recession.

Cerberus would be the latest in a series of private equity firms that have started cutting staff, including the London-based 3i Group PLC, the US-based Blackstone Group and Carlyle Group, the newspaper reported. (dpa)