(Bloomberg) — Nomura Holdings Inc. cut dozens of jobs at its U.S. investment bank, people with knowledge of the matter said, joining several rivals that are starting to retrench as the coronavirus pandemic eats into revenue.
The firm notified some workers earlier Tuesday, according to the people, who asked not be identified because the headcount reduction isn’t public. Less than 10% of the investment-banking staff in the U.S. are affected, the people said.
Earlier this year, Morgan Stanley and Citigroup Inc. pledged to preserve jobs as workers grappled with fallout from the pandemic.
But Cantor Fitzgerald said in April it would shrink its workforce “to position the firm for the uncertain macroeconomic conditions.” Wells Fargo & Co. is preparing to cut thousands of jobs starting later this year, and HSBC Holdings Plc in June resumed a plan to cut as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul.
Lawton King, a spokesman for Nomura, declined to comment.
The job cuts are separate from reductions stemming from the closing of the Tokyo-based company’s Instinet equity-research division, announced earlier this month.
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