SoftBank Group has started laying off employees at its loss-making Vision Fund and is expected to cut at least 30% of its staff, according to people familiar with the matter.
The Tokyo-based company began telling some workers of the reductions Thursday with at least 150 likely to be affected, said the people, asking not to be named as the information is not public.
Among those cut are U.S.-based partners Tom Cheung, who spearheaded the fund’s investment in smart window company View, and Raman Nanda, a longtime SB Energy executive specializing in climate tech, some of the people said. The Vision Fund unit, headquartered in London, had about 500 employees including staff at the Latin America fund.