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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.
The cuts will affect staff in the investment teams and
back-office staff in departments such as finance and legal, a
second source said.
Son in August pledged to cut costs after the Vision Fund unit
recorded a record $50 billion loss in the six months through
June, with the billionaire caught out by rising interest rates
and political instability that have hit tech valuations.
"We need to cut costs with no sacred areas," Son said at the
time.
The cuts also encompass SoftBank Group International, which was
led by Marcelo Claure before he exited the firm and which
manages other group investments.
Vision Fund has radically scaled back investing activity, with
Son saying SoftBank's second Vision Fund would primarily manage
its existing portfolio.
SoftBank has sold down its stake in key asset Alibaba Group
Holding Ltd and outlined plans to list Arm.
Son last week said he plans to meet with Samsung Electronics Co
Ltd to discuss a potential "strategic alliance" between the
South Korean technology giant and Arm.
(Reporting by Anirban Sen in New York, Sam Nussey in Tokyo and
Julie Zhu in Hong Kong; Editing by Christopher Cushing)
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