Today:

25/09/2021

I Want That Job!-Softbank

Share this article

The SoftBank Vision Fund paid its UK-based staff an average of $745,000 in the 12 months to the end of March last year, despite presiding over a failed attempt to float shared office space
provider
WeWork, says Simon Duke in The Times. According to filings, the investment group handed $146m to the 196 employees of Mayfair-based SB Investment Advisers, which guides the $100bn Vision Fund on allocating its capital.

The firm’s 52 “front-office” staff are believed to have received an “outsized cut of the awards, with some dealmakers being given multimillion-dollar payouts”. However, the payout excluded its three directors. They shared $20.1m over the period, including $15.5m for Rajeev Misra, whose annual pay doubled. SoftBank suffered “heavy losses” in stumping up a $10bn bailout of WeWork following the latter’s failed $47bn New York listing in 2019.

Source: MoneyWeek.com

Kris Paterson is a writer for WhatJobs.com

Similar Articles

Don't Miss

Navy Will Cut 500 Civilian East Coast Jobs

To fulfil Navy Region Mid-Fiscal Atlantic's Year 2022 budget objective, 500 Navy civilian employees on the East Coast will be laid off, and port activities would be limited to daylight Monday through Friday.

Fed signals bond-buying taper may start soon

As the US central bank's shift away from economic crisis measures gets traction, the Federal Reserve indicated on Wednesday that it will likely begin cutting its monthly bond purchases as soon as November, and that interest rate hikes may come sooner than planned.

Should staff return to the office?

For example, it may persist with current Covid-19 precautions in the workplace, requiring employers to plan for social distancing and to provide extra hygiene facilities. There may also be special arrangements in place for Vulnerable workers, such as pregnant women and those who have been shielding during the crisis