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Nomura Said to Plan Cutting About 20% of North America Staff

  • Decision isn't final, and cuts might reach 30%, a manager says
  • Japanese firm has been expanding in U.S. to boost fee business
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Nomura Holdings Inc. may dismiss about 20 percent 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 percent 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.