SoftBank Is Said to Plan Vision Fund Staff Cuts of at Least 30%

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. The Vision Fund unit, headquartered in London, had about 500 employees including staff at the Latin America fund.

A spokesman for the Vision Fund didn’t immediately respond to requests for comment.

WATCH: SoftBank has started laying off employees at its loss-making Vision Fund, according to people familiar with the matter. Su Keenan reports.

Source: Bloomberg

Masayoshi Son, the ...