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Japan s first strike in decades: Tokyo department store workers hit the picket lines – People s World

TOKYO Japanese retailer Seven & i Holdings Co. is selling department store chain Sogo & Seibu Co. to a U.S. investment fund, even as the union representing the company’s retail workers went on strike ahead of the announcement Thursday.

Japan s first strike in decades: Tokyo department store workers hit the picket lines – People s World

Japan s first strike in decades: Tokyo department store workers hit the picket lines – People s World
peoplesworld.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from peoplesworld.org Daily Mail and Mail on Sunday newspapers.

Japan s Sogo & Seibu department stores are being sold to a US fund as 900 workers go on strike

Japanese retailer Seven & i Holdings Co. is selling department store chain Sogo & Seibu Co. to a U.S. investment fund, even as the labor union went on strike ahead of the announcement Thursday. The transfer to Fortress Investment Group will be completed Friday, according to Seven & i Holdings. Separately, some of Sogo & Seibu’s debts, or nearly 92 billion yen ($630 million), will be forgiven, the company said in a statement.

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