Starbucks finally exits Russia
Starbucks, the coffee company has finally decided to exit the Russian market and no longer have a brand presence in the far eastern country. The decision was conveyed on Monday via a terse statement by the coffee company.
The company which paused its operations and stopped shipment of its products to Russia in March said it” made the decision to exit the Russian market in a brief statement.
Employees in the country, which number about 2,000, will get paid for six more months and Starbucks will also help them look for new jobs outside of the company.
Starbucks first opened in Russia in 2007. As of March, it had 130 Russian locations, all owned and operated by a partner.
At the time, Starbucks’ then-CEO Kevin Johnson said “we condemn the horrific attacks on Ukraine by Russia and our hearts go out to all those affected.”
It should be recalled that last week McDonald’s announced it was selling its Russia business after operating for more than 30 years in the region. McDonald’s said that the “humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values.”
Starbucks and McDonald’s both decided to pause their operations around the same time in March.
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