Masayoshi Son turns his strategic focus to artificial intelligence, SoftBank Vision Fund plans to lay off 20% of its employees

According to people familiar with the matter, SoftBank Group Vision Fund is considering laying off up to 20%, marking a strategic turn for Masayoshi Son and will be boldly betting on the field of artificial intelligence. The person familiar with the matter said that as of the end of March, the Vision Fund had about 282 employees, and the layoffs could exceed 50 positions. As Masayoshi Son's interest in large-scale artificial intelligence investments grows, the importance of the Vision Fund sector gradually declines, and the layoffs continue for years of layoffs. A Vision Fund spokesman confirmed the upcoming layoffs, but did not disclose specific details. "We will continue to adjust our organizational structure to better implement our long-term strategy of bold and firm investment in AI and breakthrough technologies," the spokesperson said in an email. The SoftBank Vision Fund has been selling key assets to raise funds for large-scale AI investments. As the company focuses on a few large investment transactions, Vision Fund no longer requires a large number of investment advisors to manage new or existing transactions. (Golden and Stone)