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Ukraine War: Starbucks To Exit Russia but Will Pay Wages to Staff for Six Months

The coffee chain had already suspended operations in March, two weeks after the Russian assault on Ukraine began.

Published
World
1 min read
Ukraine War: Starbucks To Exit Russia but Will Pay Wages to Staff for Six Months
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Following McDonald's lead, Starbucks is leaving Russia due to the country's invasion of Ukraine, Reuters reported on Monday, 23 May.

The coffee chain had already suspended operations in March, two weeks after the Russian assault began.

A statement from the company said that it had "made the decision to exit and no longer have a brand presence in the market."

Now it is retreating entirely from the Russia, although it did say that it would continue to pay its staff in the country for six months.

Around 2,000 people are still employed by Starbucks across Russia, and they will be provided, according to the statement, with the support required "to transition to new opportunities outside of Starbucks."
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Fast-food giant McDonald's had said last week that it will exit Russia's market and sell its business in the country amid the war in Ukraine.

In response to the Russian invasion, the US, the UK, and other Western allies have slapped economic sanctions on Russia, de facto cutting it off from the global financial system.

That level of economic isolation has made it difficult for Western companies to operate in the country.

A comprehensive list of companies that have taken punitive actions against Russia can be found here.

(With inputs from Reuters and the BBC.)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

Edited By :Saundarya Talwar
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