Major global brands – including McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric – are temporarily suspending their business in Russia.
The move by these corporate giants, mainly based in the United States, has come in response to Russia’s invasion of Ukraine.
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The Chicago-based burger giant reportedly said it will temporarily close 850 stores but continue paying its 62,000 employees in Russia “who have poured their heart and soul into our McDonald’s brand.”
McDonald’s President and CEO Chris Kempczinski said it’s impossible to know when the company will be able to reopen its stores.
Last Friday, Starbucks had said that it was donating profits from its 130 Russian stores –owned and operated by Kuwait-based franchisee Alshaya Group — to humanitarian relief efforts in Ukraine. But on Tuesday, the company changed course and said it would temporarily close those stores, media reports said.
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Alshaya Group will reportedly continue to pay Starbucks’ 2,000 Russian employees, Starbucks President and CEO Kevin Johnson said in an open letter to employees.
Coca-Cola Co. has also suspended its business in Russia, but it offered few details. PepsiCo and General Electric both announced partial shutdowns of their Russian business, media reports have suggested.
