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Based on media reports that reference an internal memo and sources with inside knowledge of the situation, SoftBank Group is poised to implement a workforce reduction, cutting nearly 20% of the global staff within its Vision Fund team. At present, the fund employs 44 individuals. The remaining employees will pool their resources to bolster founder Masayoshi Son's artificial intelligence (AI) investment initiatives in the United States, including the proposed $500 billion Stargate project. A spokesperson for the Vision Fund has acknowledged the layoffs but refrained from providing specific details. This marks the third round of layoffs for the fund since 2022. Notably, these job cuts come on the heels of the announcement of robust quarterly financial results, suggesting a strategic shift in the fund's investment focus.
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