SoftBank's Vision Fund Business Plans Layoff, In Talks To Get Intel As Key Investor For Arm's IPO: Report

SoftBank Group Corp SFTBYSFTBY is reportedly aiming for a fresh round of layoffs at its Vision Fund investment arm.

SoftBank may announce a headcount reduction in the next two weeks, which may impact up to 30% of its employees, Reuters reported.

If the layoff is finalized, it will result in 150 job cuts globally at the investing arm and SoftBank Group International in September 2023.

Last month, Softbank reported a net loss of ¥(970.1) billion in FY22, an improvement of ¥737.9 billion Y/Y. 

In other news, Softbank is looking to rope in Intel Corp INTC as an anchor investor for Arm Ltd's initial public offering, reported Reuters yesterday.

Related: Softbank Goes Cautious On Arm's US IPO, Eyes $10B Fund Raise

Last month, Arm eased down on its "blue sky" research by shelving a flagship tech division and focusing on more commercially viable products ahead of its public listing.

Price Action: SFTBY shares closed higher by 4.51% at $22.25 on Monday.