Starbucks set to leave Russian market

American coffee giant Starbucks is leaving Russia after 15 years in the country, the company announced in a statement Monday.

While Starbucks announced at the beginning of March it would pause its operations and stop shipments of its products to Russia, it now has decided “to exit and no longer have a brand presence in the market,” the statement reads, without saying when the move will become effective.

As a result of leaving the Russian market, 130 stores will shut down. The company said it will continue to pay its 2,000 employees for six more months, and will assist them in looking for other jobs.

The move comes a week after McDonald’s announced that it would exit Russia completely, and was seeking to sell its 850 restaurants.

Brands have been under pressure to cease their operations in Russia, with calls for boycotts of companies that still operate there. Sanctions from Western governments also made it more difficult to keep doing business. Some companies announced they are exiting the Russian market in increments, including McDonald’s, French carmaker Renault, and oil company Shell.

Source by [author_name]


Pope hoping to visit Moscow, Kyiv to ‘serve the cause of peace’

Pope Francis wants to go to Moscow and Kyiv to try and end Russia’s war on Ukraine. In an interview with Reuters published on Monday,...

French minister accused of rape leaves Macron’s government amid reshuffle

Damien Abad, France’s recently appointed minister for solidarity is leaving the government in a post-election reshuffle, the Elysée announced on Monday morning. Abad faced rape,...

‘The chemical industry is the hidden climate hero’

What is the current state of play of the chemical industry? How has it been affected by the recent crises? The industry is facing several...