SoftBank cuts about 150 staff globally

Japan’s SoftBank Group Corp is cutting around 150 staff globally at its Vision Fund unit and SoftBank Group International, a person familiar with the matter said, as CEO Masayoshi Son retrenches following huge loss on his tech bets.

Notices are going out to employees on Thursday and will affect around 30% of employees across the two businesses, the person said, declining to be identified as the information is not public. Major cost centres including the United States, Britain and China are affected, the person added.

SoftBank declined to comment.