SoftBank laying off staff globally at its Vision Fund unit

SoftBank Group Corp has started laying off employees at its loss-making Vision Fund, with cuts expected to exceed 20 per cent of its staff, according to people familiar with the matter.

The Tokyo-based company informed some staff Thursday and at least 100 workers will likely be affected, said the people, asking not to be named as the information is not public.

The Vision Fund unit, headquartered in London, had about 500 employees including Latin America funds staff. SoftBank had planned staff cuts of at least 20 per cent, Bloomberg News reported earlier this month.