SoftBank Vision Fund to lay off 20% of employees in shift to bold AI bets, source and memo say

SoftBank Group will lay off nearly 20% of its Vision Fund team globally as it shifts resources to founder Masayoshi Son’s large-scale artificial intelligence bets in the United States, according to a memo seen by Reuters and a source familiar with the plan. The cuts mark the third round of layoffs at the Japanese investment conglomerate’s flagship fund since 2022. Vision Fund currently has over 300 employees globally. Unlike previous rounds, when the group was saddled with major losses, the latest reductions come after the fund last month reported its strongest quarterly performance since June 2021,