Seibu Department Stores Ltd. will dismiss about 250 full-time employees at four outlets to be closed later this year in line with the firm's restructuring drive, company sources said Tuesday.
The step is highly unusual, as Japanese retailers undergoing restructuring usually transfer staff to different locations or encourage them to take early retirement.
Seibu, however, believes that slashing labor costs is necessary to improve its finances, the sources said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.