Nomura Holdings Inc is planning to cut jobs across its trading and investment business. It is reported that the brokerage struggles to make a profit overseas. Around 100 job cuts are expected in the restructuring process.

The job cuts are likely to come from the US and Europe. The majority of job loss can be expected from Europe which has lost billions of dollars in the past decade.

Nomura chief executive officer Koji Nagai and his wholesale banking head Steven Ashley are under pressure to turn around the foreign parts of the group after years of failing to produce sustainable profits.

The Japanese bank has struggled to generate profits in Europe ever since it bought Lehman Brothers Holdings Inc's operations there in 2008. Nagai pushed through about 50 job cuts in London in July. 

Nomura's plan to end the status of its office in the UK capital as a global booking hub also means the current 3,000-strong workforce in the region may be "a little large," the CEO said in media. 

Recently, JPMorgan Chase & Co. announced that it would cut hundreds of workers in its wealth management business and some supporting roles in its asset management operations.

In another news, WarnerMedia, part of the consolidation of the assets of AT&T Inc. and Time Warner that the telecom bought, will cut jobs as it puts together HBO and Turner. These will be voluntary buyouts for employees who are 55 years old and have ten years of service.