It's getting more painful by the week.
Bloomberg reports that Nomura may dismiss about 20% of its workforce in North America, according to people with knowledge of the situation, joining a growing number of competitors shrinking Wall Street operations amid a trading slump.
Decisions aren’t final, and the ultimate number could still differ, said the people, who asked not to be identified discussing internal deliberations. One senior manager said reductions could be expanded to affect as much as 30% of the region’s staff. Japan’s biggest brokerage has about 2,500 employees in the Americas, most of whom work in the U.S. and Canada.
The firm amended a February 'warn notice' filed with the Department of Labor, increasing the number of affected employees from 43.