London - Japanese investment bank Nomura said Thursday it would axe 1,000 jobs at their offices in London over the next few months under moves to ensure that the company remained "competitive in the current economic conditions."

Nomura said the job losses from its 4,500 strong workforce in Britain would establish the "right cost base going forward."

Most of the cuts would be achieved by next March, said Nomura, which has bought the equities and investment banking businesses from failed US bank Lehman Brothers. (dpa)