June 22 (Cointime) - SoftBank's Vision Fund is reportedly preparing to start another round of layoffs, affecting about 13% of the unit's staff, with most of the reductions to occur in the US. This comes after the investment unit reduced its headcount by approximately 30% last fiscal year due to five straight quarters of losses.

The cuts reflect the tough environment for technology investment, with global startup valuations hurt by heightened caution around loss-making firms amid rising interest rates, economic malaise and the collapse of Silicon Valley Bank sap liquidity.