SoftBank’s Vision Fund to Start Job Cuts as Soon as This Week
- Investment firm’s initial target is for a 13% staff reduction
- Vision Fund is scaling back as global startup investment dives
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SoftBank Group Corp.’s Vision Fund is preparing to start another round of layoffs as soon as this week, following an approximate 30% reduction last fiscal year, according to people familiar with the matter.
About 13% of the Vision Fund staff will be affected, one person said. The headcount reduction will mostly occur in the US, another person said, asking not to be identified as discussions are private. The investment unit had about 349 people globally as of end-March.