In the face of significant investment losses, SoftBank Group Corp is planning to cut up to 30% of its workforce at its Vision Fund investment arm, anonymous sources have revealed. The layoffs, potentially affecting the unit's US staff, may be announced within the next two weeks. This follows a similar culling of around 150 jobs globally last September. After aggressive tech investments, including in fintech giant Klarna and TikTok owner ByteDance, SoftBank's portfolio valuation has plunged due to rising interest rates and escalating US-China tensions. The group reported an annual net loss of USD7.2bn for the year ending March 31, partly offset by selling its stake in Alibaba Group Holding Ltd. The company has dramatically reduced its investing activity to focus on the listing of chip designer Arm.