To be fair, 18 months of losses will generally result in this sort of thing. If it makes anyone at Nomura expecting to receive the heave-ho feel any better, know this: you're hardly alone! Also, UBS is hiring.

Nomura Holdings Inc. is planning to cut jobs in the Americas and Europe under a broader plan to reduce costs as Japan’s biggest brokerage by revenue faces a slump in its overseas operations, people familiar with the matter said. The cuts, which could happen as early as this week, follow a dismal performance in the bank’s overseas units due to market turmoil. Nomura has posted pretax losses in the Americas for the past six straight quarters...Investment banks around the world are shedding jobs as lurching markets and low interest rates have crimped profitability.

Nomura to Cut Jobs in Americas and Europe [WSJ]