Home Stock Japan sees uncommon strike as employees at landmark division retailer protest sale By Reuters

Japan sees uncommon strike as employees at landmark division retailer protest sale By Reuters

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Japan sees uncommon strike as employees at landmark division retailer protest sale By Reuters

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© Reuters. Folks supporting the strike by a employees union of Sogo & Seibu maintain banners in entrance of the corporate’s flagship Seibu Ikebukuro retailer in Tokyo, Japan August 31, 2023, on this photograph taken by Kyodo. The slogan on the banner within the centre reads, ‘Sogo & 

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By Ritsuko Shimizu and Rocky Swift

TOKYO (Reuters) – Employees at a significant Tokyo division retailer went on strike on Thursday after talks with administration over the deliberate sale of their firm broke down, marking the primary main walk-out the nation has seen in many years.

Some 900 employees on the flagship Seibu retailer within the bustling district of Ikebukuro are protesting the character of the deliberate sale of their firm Sogo & Seibu, a unit of retail big Seven & i, to U.S. fund Fortress Funding Group.

They’re in search of job and enterprise continuity ensures, sad with reported plans for low cost electronics retailer Yodobashi Holdings to take over roughly half of the shop.

Critics, which embrace native officers in Ikebukuro, argue that such a change would additionally cheapen the shop’s picture. Yodobashi is Fortress’s accomplice within the deal.

The strike – the primary at a significant Japanese division retailer in 61 years – adopted months of negotiations between Sogo & Seibu administration and the employees’ union.

Strikes are extraordinarily uncommon in Japan, the place negotiations over wages and work circumstances are usually agreed amicably.

Seven & i apologised for the strike in a press release and mentioned Sogo & Seibu would proceed to carry talks with the union.

Different Seibu and Sogo department shops had been open for enterprise as ordinary.

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