Japanese grocery store chain Ito-Yokado will scale back its variety of everlasting workers by round 1,000, or almost 20% of its workforce, by the top of February 2026, individuals accustomed to the matter mentioned Friday.
The Seven & I Holdings unit will implement the discount via personnel relocations and pure reductions, primarily via obligatory retirement, as a part of its structural reforms.
Final yr, Seven & I mentioned that it might shut 33 Ito-Yokado shops by the top of February 2026. Round 700 Ito-Yokado workers have utilized for voluntary buyout packages.
Seven & I plans to promote a majority stake in York Holdings, which owns its grocery store and restaurant operations, together with Ito-Yokado, in an effort to concentrate on its Seven-Eleven comfort retailer enterprise.
Japanese buying and selling home Sumitomo Corp. and U.S. funding fund Bain Capital are among the many contenders within the first spherical of bidding for York, which closed final month.
