Deals
Nomura May Cut Japan Jobs as ‘Nothing Is Sacred’ After Loss
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Nomura Holdings Inc., Japan’s largest brokerage, said it will consider eliminating jobs at home as part of a plan to triple cost cuts to $1.2 billion following its first quarterly loss in more than two years.
While most of the expense reductions will be in Europe, “we’ll also target Japan, focusing on the wholesale business,” Chief Financial Officer Junko Nakagawa told reporters yesterday in Tokyo. The company posted a 46.1 billion yen ($590 million) loss for the three months ended Sept. 30, wider than the 35 billion yen average estimate among analysts surveyed.