Nomura Holdings Considering Hundreds of Layoffs

Nomura Holdings is a name that you have probably not heard in the past. For those of you who are not familiar with the company here is a look at how they have chosen to describe themselves, “Nomura’s corporate citizenship goal is “For Future Generations,” which represents a value shared across the entire group to implement our corporate social responsibility program. We believe that as a global financial institution we must contribute to the real economy through our core business. We do this by facilitating efficient fund flow in the financial and capital markets, while generating long-term value for a diverse range of stakeholders. We are striving to achieve our goal of enhancing social sustainability for future generations.”

The company is, according to information first published by Reuters, getting ready to cut back on hundreds of jobs. As the announcement is not at this time official there are no hard numbers, but it looks like the company is getting ready to cut back on hundreds of jobs in order to make things work. For now there is no solid information about what kind of jobs are being considered for cutting or when the workers who are being impacted will be notified about the mass layoff action.

Interestingly enough the company chose not to put out a release to confirm or refute the loss of these jobs that is impending. Instead the most recent release by the company highlighted a change in a member of its management, “Nomura, Asia’s global investment bank, announces today that it has hired Jon Linton as Head of Macro Products for Australia.  Based in Sydney, Mr. Linton will report to Yutaka Nakajima, Senior Managing Director and Head of Fixed Income Trading, Asia Pacific. .. Mr. Linton joins from RBS where he was most recently Head of Fixed Income Trading for Australia and prior to that Head of the Flow Rates Euro business in London. He holds an honours degree in Economics from Cambridge University.”

Of course Nomura Holdings  is not the only company is Japan feeling the pinch of this global economic downturn. For those of you who missed out on our coverage of job cuts at Sega here is an excerpt that will get you up to speed in not time at all, “Well it looks like Sega is getting ready to get rid of workers on not one, but two different continents. According to reports the company is getting rid of staff in both the United States and in France. For the time being the company is not putting out any official reports about the loss of the jobs, so most of the information is coming from third party reports. The loss of the jobs is not completely unexpected. The company announced a significant fiscal loss in recent months. For the 2011-2012 fiscal year of the company they losses totaled roughly $86.4 million, which is enough to make any company cringe. The company attributed the loss of the jobs to one simple thing, poor sales, the company has shown a decrease in the number of units sold across many of its games.”