McDonald’s formalized on Monday (16) its departure from Russia, a process that began in the early days of the invasion of Ukraine. In March, the world’s best-known fast-food chain had closed 850 restaurants in the country.
To justify the departure, McDonald’s said that the humanitarian crisis generated by the war is inconsistent with the values of the chain that was in the country for more than 30 years. The first restaurant opened in Russia shortly after the fall of the Berlin Wall in 1989.
+ Families traumatized by bombings refuse to leave the war zone in Ukraine
Now, the chain believes it will lose between $1.2 billion and $1.4 billion in revenue. In total, the Russian market makes up about 9% of McDonald’s worldwide revenue and 3% of operating profit.
In the exit statement, McDonald’s CEO Chris Kempczinski said that the chain continues to pay the salary of its Russian employees and that it is looking for a buyer to take over the operation with the workers.
“We are committed to our global community and must remain steadfast in our values. And our commitment to our values means we can no longer keep the Arches shining there,” she said.
#McDonalds #formalizes #departure #Russia #years #operation