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Nomura to cut 1,000 jobs in London

5th December 2008
By Staff Writer

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.

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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.

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