Japan sees rare strike as workers at landmark department store protest sale By Reuters

<p> <br />
</p>
<div>
<div>
<u/><span>2/2</span><br />
<img decoding="async" src="https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ7U01X_L.jpg" alt="Japan sees rare strike as workers at landmark department store protest sale" id="carouselImage" style="visibility:hidden" /><br />
<span>© Reuters. People supporting the strike by a workers union of Sogo &amp; Seibu hold banners in front of the company&#8217;s flagship Seibu Ikebukuro store in Tokyo, Japan August 31, 2023, in this photo taken by Kyodo. The slogan on the banner in the centre reads, &#8216;Sogo &amp; </span><br />
<i class="imgGrad"/><br />
<span>2/2</span><u/>
</div>
<p>By Ritsuko Shimizu and Rocky Swift</p>
<p>TOKYO (Reuters) &#8211; Workers at a major Tokyo department store went on strike on Thursday after talks with management over the planned sale of their company broke down, marking the first major walk-out the country has seen in decades.</p>
<p>Some 900 workers at the flagship Seibu store in the bustling district of Ikebukuro are protesting the nature of the planned sale of their company Sogo &amp; Seibu, a unit of retail giant Seven &amp; i, to U.S. fund Fortress Investment Group.</p>
<p>They are seeking job and business continuity guarantees, unhappy with reported plans for discount electronics retailer Yodobashi Holdings to take over roughly half of the store.</p>
<p>Critics, which include local officials in Ikebukuro, argue that such a change would also cheapen the store&#8217;s image. Yodobashi is Fortress&#8217;s partner in the deal. </p>
<p>The strike &#8211; the first at a major Japanese department store in 61 years &#8211; followed months of negotiations between Sogo &amp; Seibu management and the workers&#8217; union.</p>
<p>Strikes are extremely rare in Japan, where negotiations over wages and work conditions are typically agreed amicably. </p>
<p>Seven &amp; i apologised for the strike in a statement and said Sogo &amp; Seibu would continue to hold talks with the union.</p>
<p>Other Seibu and Sogo department stores were open for business as usual. </p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/japan-sees-rare-strike-as-workers-at-landmark-department-store-protest-sale-3164831">Source link </a></p><p>The post <a href="https://forextraderhub.com/japan-sees-rare-strike-as-workers-at-landmark-department-store-protest-sale-by-reuters.html">Japan sees rare strike as workers at landmark department store protest sale By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>