Vision Fund is reportedly set to reduce the size of a 500-strong team by about 10% in the wake of some $18bn in losses over the past year.
Japan-headquartered telecommunications and internet group SoftBank intends to cut about 10% of the staff at its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.
SoftBank is making the changes as part of a wider cost-cutting drive following its confirmation last week that Vision Fund has booked a loss of roughly $18bn over the past year.
The largest proportion of those losses came through investments in co-working space provider WeWork, the valuation of which has tumbled from…
