Nomura is latest bank to cut jobs

Investment bank Nomura is set to cut several hundred staff with the bulk of layoffs in Europe, a person familiar with the matter said yesterday. The cuts, which will include almost 300 in Europe and less than 400 globally, will account for about five per cent of staff in Nomura's EMEA venture. The cuts could be officially confirmed today, the source said. Nomura has about 27,000 staff, with some 4,500 in Europe. It is the latest in a long line of investment banks to slash jobs in a bid to trim costs.