A labor union representing Sogo & Seibu department store employees has decided to go on strike at the Seibu flagship store in Tokyo’s Ikebukuro on Thursday, as it was unable to reach an agreement with the parent firm Seven & I Holdings over the sale of the department store unit to a U.S. investment firm, the union said Wednesday.
Seven & I is set to hold an extraordinary board meeting Thursday on whether to go ahead with the sale of the department store unit on Friday.
The labor union has asked Seven & I not to rush ahead with the buyout deal, as it hopes to confirm job security and the continuation of the department store business even after the sale. On Monday, the labor union notified management and Seven & I that it would launch a strike unless Seven & I showed a clear sign that it would wait to make a final decision on the deal. As such, the board meeting is effectively a rejection of the union’s demands.