Japanese supermarket chain Ito-Yokado will reduce its number of permanent employees by around 1,000, or nearly 20% of its workforce, by the end of February 2026, people familiar with the matter said Friday.
The Seven & I Holdings unit will implement the reduction through personnel relocations and natural reductions, mainly through mandatory retirement, as part of its structural reforms.
Last year, Seven & I said that it would close 33 Ito-Yokado stores by the end of February 2026. Around 700 Ito-Yokado employees have applied for voluntary buyout packages.
Seven & I plans to sell a majority stake in York Holdings, which owns its supermarket and restaurant operations, including Ito-Yokado, in an effort to focus on its Seven-Eleven convenience store business.
Japanese trading house Sumitomo Corp. and U.S. investment fund Bain Capital are among the contenders in the first round of bidding for York, which closed last month.
