If you overlook the unpleasant bits we shall not name, this often self-employed occupation involves essentially getting paid to walk, so it provides all the benefits of walking, plus the dogs work out arm muscles, too.Mike Werch of Indeed.com remarked on the occupation, “They spend a considerable amount of time walking each day. Even if you’re a bad dog walker and you spend that time getting pulled behind a dog, probably burns more calories and is a good shoulder workout.”

SoftBank is backing out of its investment in struggling dog-walking start-up Wag.

The Japanese conglomerate is selling its stake in Wag back to the company, according to people familiar with the matter and an internal memo viewed by CNBC. The news was first reported by The Wall Street Journal.

"We are amicably parting ways with SoftBank and SoftBank will no longer have Board representation," Wag CEO Garrett Smallwood said in the internal memo to employees. "We thank the Vision Fund for their support in the company to date."

The price of the deal is unclear, but it's said to be below the $650 million valuation Wag earned when SoftBank first invested nearly two years ago, according to the Journal.

Wag, which pairs dog owners with available walkers in their neighborhood, landed its first investment from SoftBank's Vision Fund in January 2018. Since then, SoftBank's $100 billion Vision Fund has come under scrutiny for plowing money into unprofitable start-ups, such as WeWork and Uber. WeWork's spectacular rise and fall has shaped SoftBank's decision to curb its high-risk investment strategy for Vision Fund 2.

Alongside the move, SoftBank is giving up its two seats on Wag's board. Wag has cut 80% of its staff in an effort to streamline the business, said a person with knowledge of the matter who asked not to be named because the details are confidential. The company has considered selling itself and had two offers from pet companies, the person said.

Smallwood, who was named CEO in November, confirmed in the memo that the company is laying off "a number" of employees as it focuses on the needs of the business, including achieving profitable growth.

"As a more focused company with a solid capital base that is right-sized to the needs of our business and strategy, we have plenty of runway to execute our plans to accelerate our progress toward profitable growth," Smallwood wrote. "The decision to move in this direction was based on the strong conviction of our investors that this is the right course for the company."

SoftBank CEO Masayoshi Son indicated to investors after the company's latest earnings report last month that the Wag investment was in bad shape and could follow the path of WeWork.

"Is there any other similar concern? In fact, yes, there is," Son said. "Like a dog-walking company and other portfolio companies, we may see similar problems surfacing."

Here's the full memo Wag sent to employees: