Seven-Eleven to cut 3,000 jobs, close stores
NHK -- Oct 11
Japanese retailer Seven and i Holdings announced on Thursday a major restructuring plan.

The measure will result in about 3,000 job cuts by the end of fiscal 2022.

Executives say they intend to close five Sogo and Seibu department stores by February 2021 that are no longer profitable.

They are considering shutting another 33 Ito-Yokado supermarkets or entering into partnerships with other firms inside or outside the group to help operate them.

Finally, the executives plan to close or relocate about 1,000 unprofitable Seven-Eleven convenience stores.

News source: NHK
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