Probably the most likely cause is a leaking piston seal.

Does it also leak down quickly at shutdown?

If that's not the case the internal linkage MAY be worn and possibly adjusting per the manual might help.
 
In addition you could be sucking in air on the large suction line. Check for foaming oil. Have you added a different oil lately?
 
(quoted from post at 10:12:57 05/06/18) In addition you could be sucking in air on the large suction line. Check for foaming oil. Have you added a different oil lately?

This is my vote.
 

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