It is reported that in a move to cut operating cost, Japan's largest brokerage, Nomura Holding Inc. is planning to shut down its underwriting for European stocks.

Below is the summary of the layoffs at major investment banks worldwide: -

(i)Barclays Plc might lay off 20% of the investment bank employee;

(ii)Goldman Sachs plans to cut up to 10% of fixed-income traders and sales staff;

(iii)Standard Chartered announced plans to lay off 1.5 million people by 2018;

(iv)Deutsche Bank was forced to announce 15,000 job cuts; and

(v)Credit Suisse increases the number of layoffs and in 2016, it is expected that 6,000 jobs will be cut.

ANBOUND’s research team is of the view despite the surplus in financial capital globally, the shrink in the businesses of the traditional, large investment banks have confirmed that the world economy has reached a stage where the comparison is made on who is in a worse situation.