American chain of coffee shops Starbucks announced on Monday its withdrawal from the Russian market, where it had been operating for 15 years.joining other companies such as McDonald’s or Exxon Mobil that have taken similar measures in reaction to the Russian invasion of Ukraine.
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The chain will close 130 stores throughout the country, which contribute less than one percent of its annual incomeaccording to a company statement.
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The company had already announced the suspension of its commercial activities since March 8. Starbucks then underlined its condemnation “of Russia’s horrific attacks in Ukraine” and advanced that, as the situation evolved, it would continue to take steps that were in line with its “values.”
Starbucks pointed out that it will pay compensation of six months of salary to the around 2,000 workers that the company has in Russia.
The fast-food chain McDonald’s announced last March the temporary closure of its 850 stores in Russia and the freezing of its operations, which was a considerable blow given the presence of the chain in the vast Russian territory.
Regarding McDonald’s, the group announced last week that it had reached an agreement to sell its business in Russia to businessman and franchise partner Alexandr Govor, which will save tens of thousands of jobs.
“According to the terms of the agreement, Mr. Govor acquires the chain’s entire restaurant portfolio and is going to develop it under a new brand“McDonald’s said in a statement, which highlights that the Russian businessman has been a partner since 2015 and that 25 franchises opened by him operate in Siberia.
*With information from Eph.
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