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SoftBank-backed AI startup CloudMinds slashing workforce
- Monday | 27th January, 2020
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 stock market, people familiar with the matter said. Headed by former China Mobile research whiz Bill Huang, money-losing CloudMinds is the latest SoftBank portfolio company to lay off workers. Around 175-225 people are being laid off among CloudMinds’ around 700-strong workforce in China, one of the sources said. ELECTRIC DREAMSCloudMinds products include humanoid robots XR-1 and Cloud Pepper, an enhanced, cloud-connected version of the Pepper robot from SoftBank’s robotics division. Many of the company’s products are not fully commercialised, three sources said, with CloudMinds struggling to attract customers for Cloud Pepper in some markets.
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