Several global brands such as McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric have announced that they are temporarily suspending their business in Russia in response to the invasion of Ukraine. McDonald’s President and Chief Executive Officer (CEO) Chris Kempchinsky said in a letter to employees, “According to our principles, we cannot ignore the unnecessary suffering being caused to people in Ukraine.”
McDonald’s reported the
Chicago-based burger giant said it would temporarily close 850 stores but would continue to pay its 62,000 employees in Russia who “did their blood and sweat for our McDonald’s brand” Kempchinsky said in the letter. “The situation is very challenging for a global brand like us and it is necessary to consider things.”
Starbucks, Coca-Cola also closed business in Russia
Starbucks also said on Friday that it is donating profits from its 130 Russian stores to humanitarian relief efforts in Ukraine. At the same time, ‘Coca-Cola’ has also announced the suspension of its business in Russia, but did not provide further information in this regard. Coke’s partner, the Switzerland-based Coca-Cola Hellenic Bottling Company, has 10 bottling plants in Russia, its largest market. Coca-Cola Hellenic Bottling Company holds a 21 per cent stake in Coca-Cola.
PepsiCo and General Electric also partially closed business in Russia PepsiCo and General Electric have also
announced partial closure of their business in Russia. PepsiCo said it would stop selling its beverages in Russia. He will also suspend all kinds of cake capital investment and promotional activities there. However, the company said it would continue to produce milk, baby formula and baby food to continue to support its 20,000 Russian employees and 40,000 Russian agricultural workers.
Many other big companies returned from Russia,
‘General Electric’ also said in a tweet that it is partially suspending its business in Russia. The company said that essential goods and medical equipment services for existing electricity services in Russia will continue. Earlier, ‘KFC’ and ‘Pizza Hut’ parent company ‘Yum Brands’ said late on Tuesday that it plans to temporarily close 70 company-owned ‘KFC’ restaurants in Russia. Also, he is in talks with a franchisee to close all 50 ‘Pizza Hut’ restaurants in Russia.
Burger King also made this announcement
while ‘Burger King’ said that it is giving profits from its 800 stores in Russia to relief efforts. Amazon said on Tuesday that new accounts would not be able to be created in Russia and Belarus on the company’s cloud computing network and Amazon Web Services. It is worth noting that Russia attacked Ukraine last month, after which it is facing international criticism and various sanctions.
