SoftBank-backed CloudMinds slashes workforce amid cash burn: sources

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© Reuters. SoftBank-backed CloudMinds slashes workforce amid cash burn: sources© Reuters. SoftBank-backed CloudMinds slashes workforce amid cash burn: sources

TOKYO (Reuters) – SoftBank-backed cloud robotics and artificial intelligence startup CloudMinds is slashing its global workforce as it burns through cash after repeated attempts to list on the public markets, people familiar with the matter said.

Headed by former China Mobile (HK:) research whiz Bill Huang, money losing CloudMinds is slashing staff, three sources said, all of whom declined to be identified because the information is not public.

The job cuts include China, two of the sources said, where the bulk of the company’s workforce is based and from where most of its revenues originate.

CloudMinds did not respond to multiple requests for comment.

A SoftBank (T:) representative declined to comment.

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