Investment bankers, analysts and traders at some firms can expect their bonuses to be 30% lower this year according to a report from Bloomberg.

Bloomberg reports that people familiar with TD Securities Inc., Lehman Brothers Holdings Inc. and UBS Warburg expect that executives at these firms will be slashing their employees payouts. Morgan Stanley Dean Witter & Co. plans to pay more of its bonuses in stock to conserve cash.

“Those bonus reductions translate into an industry-wide drop of $4 billion in the cash and stock payouts that can account for three-quarters of compensation for top employees. Last year, they totalled a record $13.3 billion, according to New York State,” the report notes.

Spokesman for Lehman and UBS declined to comment. Michael Sherman, a TD Securities spokesman, said bonuses are a function of earnings. Yesterday, TD Bank announced that TD Securities’ profit gained 21% in the most recent quarter, although this includes the addition of Newcrest Capital. Bloomberg says that managers at TDSI have told some employees to count on a 25% cut in the yearend payments.

The biggest declines will come in divisions such as equity capital markets and among telecommunications-related industry groups, where business has declined the most.

Firms will likely also continue cutting jobs. Morgan Stanley has already fired 1,500 people this year, UBS Warburg has cut about 300 employees, Lehman has increased its staff, while Goldman has let go about 1,000 jobs.

U.S. equity sales totalled $95.8 billion this year, about half what they did in the same period last year, according to Bloomberg data. Mergers are off by half. U.S. initial public offerings totalled $34 billion this year, less than half the $87.8 billion in the same eight months last year, according to Bloomberg data.