International
Coca-Cola, PepsiCo, Macdonald’s, Starbucks, shut businesses in Russia
Iconic international brands, Coca Cola, PepsiCo, McDonald’s and Starbucks, have all temporarily shut their businesses in Russia in response to the country’s invasion of Ukraine.
The global firms took the decision to join several other companies to pull out of Russia following threats of boycotts for failing to shut down their businesses in Russia to protest the war.
In a statement on Tuesday, McDonald’s said all 850 of its restaurants in Russia will close down but will continue to pay the 62,000 people who work for them there.
McDonald’s owns 84% of its restaurants in Russia, and they contributed 9% of the company’s revenue last year.
In a letter to employees, the company’s president and CEO Chris Kempckinski, said closing the outlets is the right thing to do because they cannot ignore the “needless human suffering in Ukraine”.
Just hours after the McDonald’s announcement, Starbucks also announced it was “suspending all business activity in Russia, including shipment of its products and cafes run by a licensee.”
The company said Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will “provide support to the nearly 2,000 partners who depend on Starbucks for their livelihood.”
Read also: Russian President Putin lists unfriendly countries, vows ‘decisive actions’
Coca-Cola became the third international company to close shop on Tuesday when it released a statement that it was “suspending its business in Russia”.
“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine.
“We will continue to monitor and assess the situation as circumstances evolve,” a statement from the soft drink giant said.
Next to follow was PepsiCo which also said in a statement that it was suspending all advertising in Russia and stop the sale of its drinks brands.
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