Starbucks Ending Business In Russia After 15 Years Over Putin’s Invasion Of Ukraine
Starbucks announced on Monday that it is ending its business operations in Russia due to the nation’s invasion of Ukraine.
The company’s 130 locations have been closed since March, but will now be permanently shut down after the decision.
“Starbucks has made the decision to exit and no longer have a brand presence in the market,” a company news release said.
“We will continue to support the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opportunities outside of Starbucks,” the release added.
On March 8, Starbucks first announced its plans to shut down locations and suspend business in Russia.
“We continue to watch the tragic events unfold and, today, we have decided to suspend all business activity in Russia, including shipment of all Starbucks products,” the company noted at the time.
The company also previously announced its support of the Ukrainian people through its Starbucks Foundation. The foundation has contributed $500,000 to World Central Kitchen and the Red Cross for humanitarian relief efforts for Ukraine, according to the company’s March statement.
“In its latest quarterly results released in early May, the company did not disclose the financial impact of the suspension of business operations. Former CEO Kevin Johnson had pledged to donate royalties from the Russian business to humanitarian causes,” according to CNBC.
The move comes shortly after McDonald’s announced its end of doing business in Russia after 32 years of operation in the country.
The popular fast-food franchise said in a news release last week that Russia’s invasion of Ukraine and other unpredictabilities are among the reasons for its departure.
“We’re exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchisees. Their dedication and loyalty to McDonald’s make today’s announcement extremely difficult,”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
