Starbucks to quit Russia, shutting 130 stores 3 months after Moscow’s Ukraine invasion
SCMP, 24 May 2022
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Starbucks is pulling out of Russia, a market where it had maintained operations since 2007. In a message to employees on May 23, 2022, the American coffee giant said it has decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs. In early March, just after Moscow ordered troops into Ukraine on February 24, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine. But since then, major brands including Coca-Cola, PepsiCo, McDonald’s and others have halted their business in Russia.
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Starbucks is pulling out of Russia, a market where it had maintained operations since 2007. In a message to employees on May 23, 2022, the American coffee giant said it has decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs. In early March, just after Moscow ordered troops into Ukraine on February 24, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine. But since then, major brands including Coca-Cola, PepsiCo, McDonald’s and others have halted their business in Russia.
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Linkedin: https://www.linkedin.com/company/south-china-morning-post/
#scmp #World #Russia
