{"id":54305,"date":"2023-08-29T07:18:09","date_gmt":"2023-08-29T11:18:09","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/seven-i-department-store-unit-union-threatens-to-strike-over-fortress-deal\/"},"modified":"2023-08-29T07:18:11","modified_gmt":"2023-08-29T11:18:11","slug":"seven-i-department-store-unit-union-threatens-to-strike-over-fortress-deal","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54305","title":{"rendered":"Seven & i department store unit union threatens to strike over Fortress deal"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of Seven & I Holdings is seen at its headquarters in Tokyo, Japan December 6, 2017. REUTERS\/Toru Hanai\/File Photo<\/span>
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TOKYO (Reuters) -A labour union at Seven & i Holdings’ department store unit Sogo & Seibu threatened on Monday to go on strike at a flagship store on Aug. 31 depending on the outcome of talks with management over the subsidiary’s planned sale to a U.S. fund.<\/p>\n

Labour strikes are extremely rare in Japan, and if it goes ahead, it would be the first at a major department store in about 60 years, local media reported. Sogo & Seibu’s labour union announced the strike notice at a press conference.<\/p>\n

Japan-based Seven & i, operator of the world’s largest convenience store chain, agreed last year to sell Sogo & Seibu to Fortress Investment Group. But the deal has been delayed amid opposition from workers, and company management cancelled a meeting for Friday last week where it was to finalise the sale, Kyodo had reported.<\/p>\n

Seven & i Holdings confirmed its unit had received the strike notice and said it was reviewing the union’s requests. Negotiations will continue, it said.<\/p>\n

If the talks break down, about 900 union members at Seibu’s flagship store in Ikebukuro in Tokyo will strike on Thursday, a union member said. He said the union settled on that date because it believed Seven & i was looking to complete the sale of the unit on the following day, Sept. 1.<\/p>\n

Sogo & Seibu’s union had the support of the unions of rival department stores Takashimaya, Isetan Mitsukoshi, Daimaru Matsuzakaya and Hankyu Hanshin, all of which attended the press conference, the union member said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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