Japanese lifestyle goods store ”Loft” faces labor shortage, adjusts employment upper limit to 70 years old - South Korean report

Japanese lifestyle goods retailer Loft will raise the upper age limit for employment to 70 from September this year in order to alleviate labor shortages.
On the 5th, the Nihon Keizai Shimbun reported that Loft will extend employment until age 70 from September.
Loft has previously set the upper retirement age at 60 to 64, and has rehired retired employees.
In addition to the existing employees, we decided to hire employees who have already retired at age 65. They have a wealth of experience and knowledge about the business.
The aim is to use senior human resources to alleviate the labor shortage at stores. As a result, the reemployment period for both regular and non-regular employees is set at 64 years old, and those aged 65 or older will be considered non-regular employees.
The senior staff will be in charge of cashiering and displaying products at the store. Loft has been promoting wage increases for all employees since April this year.
In order to solve the serious labor shortage problem, the government plans to gradually raise wages from fiscal 2025. Prior to this, Nitori Holdings, known as the "Japanese IKEA," announced in July this year that it would gradually raise wages for its employees who wish to return to work.
The upper age limit was adjusted upward to 70. The Nikkei reported that "there is a growing trend in the distribution industry to expand employment of elderly people."