Nomura to cut 1,000 jobs in London
5th December 2008
Japanese securities firm Nomura plans to cut nearly 1,000 jobs or nearly 20% of its staff in London, three months after acquiring parts of the collapsed American investment bank Lehman Brothers.
In September 2008, Nomura acquired some Lehman Brothers businesses including 3,000 staff, mainly in equities and investment banking. Nomura's latest decision to cut jobs has been reportedly taken after a strategic review of the acquisition.
According to reports, Nomura plans to cut its staff by a fifth and plans to record annual profits of nearly GBP3.6 billion by 2011.