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SoftBank Vision Fund is reportedly laying off 30% of its workforce, or at least 150 employees



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The Vision Fund, a venture capital arm of SoftBank, has launched a sweeping layoff process, cutting at least 30% of its workforce globally, or approximately 150 of the 500 employees, according to a report by Bloomberg.
The news comes nearly two months after SoftBank chief executive officer and founder Masayoshi Son said the company would review the organization’s size and structure and that it planned to do some cost-cutting due to a record 3.2 trillion JPY (about $23.4 billion) loss in the three months ended in June.
It is unclear which regional offices would be affected by the layoffs. The London-headquartered VC firm has offices in the U.S. and Asia. SoftBank declined to comment when reached by TechCrunch.
The majority of SoftBank’s record loss — approximately $17.3 billion — ties to the Vision Fund, which has backed more than 470 startups globally in the past six years. Son a …

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