SoftBank Planning Vision Fund Staff Cuts of At Least 30%, Sources Say
- Founder had said layoffs were planned after $23 billion loss
- SoftBank has suffered with the downturn in tech valuations
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SoftBank Group Corp. has started laying off employees at its loss-making Vision Fund and is expected to cut at least 30% of its staff, according to people familiar with the matter.
The Tokyo-based company began telling some workers of the reductions Thursday with at least 150 likely to be affected, said the people, asking not to be named as the information is not public.