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.
Some 900 workers at the flagship Seibu store in the bustling district of Ikebukuro are protesting the sale of Sogo & Seibu, a unit of Japanese retail giant Seven & i (3382.T), to U.S. fund Fortress Investment Group.
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.
I wonder what the common business leader in Japan is thinking right now with these workers actually standing up for their rights - personally I’m picturing blubbering rage lol
I’m not sure, I think more Japanese businessmen and C-suites are worried about takeovers from US, Europe and China-based multinational companies. They only care a little bit about workers advocating for their rights.