softbank layoff employees, a famous bank that laid off 150 employees.. The echo of continuous losses!! – After heavy loss softbank laying off 30 percent vision fund staff

Japanese multinational SoftBank has said it will lay off about 150 employees at its Vision Fund unit and SoftBank Group International.

A person familiar with the matter said notices have been sent to employees of Vision Fund and SoftBank Group International, Reuters reported. Employees there have also been hit following losses in major cost centers including the US, UK and China.

SoftBank CEO Masayoshi Son has faced major losses in some of his technology challenges. Earlier in August, SoftBank’s Vision Fund unit posted a $50 billion loss through June. He also said that the bank had to lay off its employees due to political reasons and continuous decline in bank interest rates.

Masayoshi Son has said that SoftBank’s second Vision Fund will primarily manage its existing portfolio as the Vision Fund has seriously scaled back its investment activity.