LONDON/TOKYO ¨C SoftBank Group Corp.¡¯s Vision Fund is planning deep cuts in staffing after reporting about $18 billion (?1.94 trillion) in losses from the declining value of its startups, according to people familiar with the matter.
The reductions could affect about 10 percent of the fund¡¯s workforce of roughly 500, said two of the people, who asked not to be identified discussing personnel decisions. The Vision Fund¡¯s headquarters are in London, with additional operations in Tokyo and California. The cuts will be across all levels of staff, said one person.
A spokesman for the Vision Fund declined to comment.
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