Nomura Holdings Inc. aims to derive almost half a billion dollars in planned savings from Europe, where it lost the most money last year, as the brokerage scales back its global ambitions
Nomura will pare about $450 million in costs in Europe and the Middle East, $210 million in the Americas and $340 million in Asia, including Japan, Nomura said in a presentation to investors in Tokyo on Thursday.
About half of the cost cuts worldwide will be from trimming payrolls, with the rest coming from merging some operations, curtailing rental expenses and reducing investment in information technology, sources said.