Serious investment losses, Softbank Corp. Group's vision fund will lay off 20% of its staff.

CTOnews.com, September 4 (Xinhua)-- Softbank Corp. Group's Vision Fund (Vision Fund) plans to cut at least 100 jobs, equivalent to 20% layoffs, according to Bloomberg. The Vision Fund will cut these jobs in the US, China and the UK, according to people familiar with the matter.

At the end of August, Softbank Corp. Group announced that the Vision Fund CEO Rajeev Misra would resign as Executive Vice President of Softbank Corp. Group, but retain the position of Director of Softbank Corp. Investment Consulting Company.

CTOnews.com learned that the financial report showed that shareholders of Softbank Corp. 's parent company posted a net loss of 3.1627 trillion yen (about 155.921 billion yuan) in the first quarter of 2022, the second consecutive quarter in which Softbank Corp. recorded the largest quarterly loss ever.

In addition, in the first quarter of fiscal year 2022, Softbank Corp. Group Vision Fund (Phase I and Phase II) lost a total of 2.9191 trillion yen (about 143.912 billion yuan) on investment and 2.3308 trillion yen (about 114.908 billion yuan) on operating loss.