Redundancies come to Nomura

Is Nomura going to cut hard into Japanese jobs? This is the obvious question after last week's revelation that Nomura's eliminating jobs for ex-Lehman staff in Asia. At least 30 jobs are expected to go in Tokyo.

Nomura shareholders seem to want cuts - the company's share price rose 0.7% after the announcement.

Azuma Ohno, a Tokyo-based analyst at Credit Suisse Group AG, told Bloomberg that more cuts would be a good idea: "Nomura is on course to post a big loss if they won't do any restructuring. Nomura should do more job cuts, including its own employees.''