SoftBank to condense US offices after failed T-Mobile bid
Japan’s SoftBank is planning to shrink its office base in Silicon Valley, US, Reuters reports, citing sources close to the matter.
Following its failure to secure the acquisition of T-Mobile US in August this year, the office reduction plans suggest that SoftBank will not be looking to revive its offer anytime soon, despite reports that the two companies had not ruled out future consolidation.
Although it has not yet been made public, SoftBank is thought to be moving the majority of its manpower over to its West Coast operations, including those at its Sprint headquarters in Kansas.
SoftBank had leased two buildings at an annual cost of over $3 million for the potential T-Mobile-driven expansion, and is now thought to be considering renting one of these out.
“There were people sent to Silicon Valley for the purpose of making [mobile phone] platforms, but that job was done and there’s nothing else to do,” a source told reporters.
According to SoftBank spokesperson Matthew Nicholson, a number of employees are moving back to Tokyo or going to the Sprint office in Kansas.