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SoftBank Vision Fund plans to lay off 20% of staff as Masayoshi Son shifts strategic focus to AI
2hours ago

Odaily Planet Daily News: According to people familiar with the matter, SoftBank Group's Vision Fund is considering laying off up to 20% of its employees, which marks that Masayoshi Son is shifting his strategic focus to bold bets in the field of artificial intelligence. The person said that the Vision Fund, which had a total of about 282 employees as of the end of March, may cut more than 50 positions. As Masayoshi Son's interest in large-scale artificial intelligence bets has grown, the importance of the Vision Fund department has gradually diminished, and the layoffs continue years of reductions. A spokesperson for the Vision Fund confirmed the news of the upcoming layoffs but did not disclose specific details. "We continue to adjust our organizational structure to better execute our long-term strategy - making bold and determined investments in AI and breakthrough technologies," the spokesperson said in an email. SoftBank Vision Fund has been selling key assets to raise funds for large-scale AI investments. As the company focuses on a few large investment transactions, the Vision Fund no longer needs a large number of investment advisors to manage new or existing transactions. (Jinshi)