SoftBank plans at least 30% staff cuts to Vision Fund, source confirms

Masayoshi Son, CEO of SoftBank, has been weighing up various options for chipmaker Arm after Nvidia walked away from buying the company.

A source told CNBC that SoftBank is cutting at least 30% of staff at the Vision Fund.

At least 150 Vision Fund workers will be affected by the cuts according to a report.

Masayoshi Son, the founder of SoftBank, had talked about cost cutting and a more conservative investment approach after the company posted a loss for the Vision Fund.

Son said last month that he's had to learn to become more systematic about investments and less swayed by emotions towards specific companies because of the fund's large swings.

Son said in August that they try to aim for the first base or second base hit.

He said at the time that the Vision Fund might need to be reduced dramatically.

SoftBank didn't want to say anything.

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Masa Son, CEO of SoftBank, says the company is going into defense mode.