7-Eleven is laying off 880 employees, what’s going on?

Jakarta

The 7-Eleven convenience store chain in the United States has laid off around 880 workers. The layoffs were made at chain stores in Irving Texas and Enon Ohio.

The Japanese-owned retail network Seven & i Holdings Co. has laid off workers amid widespread inflationary pressures in Uncle Sam’s country. The layoffs were made following the network’s acquisition convenience stores and Speedway gas stations.

“As with any integration, our approach is to review the performance of our combined organizational structure,” a company spokesperson said.I ReutersFriday (7/22/2022).

7-Eleven joins a number of American companies that have recently laid off employees as the country grapples with widespread inflationary pressures.

In 2020, Seven & i Holdings agreed to purchase Marathon Petroleum Corp-owned Speedway. The deal brings the number of 7-Eleven stores in the United States and Canada to approximately 14,000.

US investment firm ValueAct Capital, which bought Seven & i Holdings for $1.53 billion last year, has urged the company to carry out structural reforms in its 7-Eleven business.

Meanwhile, in April, Seven & i Holdings announced that it would change its board of directors in order to accelerate its overseas growth.

(page/hs)

Robert Butler

"Bacon aficionado. Hardcore twitter enthusiast. Hipster-friendly pop culture expert. Student. Certified beer buff."

Leave a Reply

Your email address will not be published.