Seven & i to protect Japan department store’s jobs after buyout

TOKYO —  Japanese retailer Seven & i Holdings plans to keep the roughly 5,000 workers at department store unit Sogo & Seibu employed even after the latter’s planned sale to U.S. investment fund Fortress Investment Group, Nikkei has learned.

Seven & i has decided to work with Fortress following the transaction to maintain their employment, including by transferring workers within Sogo & Seibu or to another Seven & i unit. Seven & i has already requested cooperation from Fortress on the matter.