McDonald's to sell its Russian business, try to keep workers
Source: AP
By DAVID KOENIG
McDonalds said Monday that it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February.
The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia is no longer tenable, nor is it consistent with McDonalds values.
The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer.
CEO Chris Kempczinski said the dedication and loyalty to McDonalds of employees and hundreds of Russian suppliers made it a difficult decision to leave.
FILE - McDonald's restaurant is seen in the center of Dmitrov, a Russian town 75 km., (47 miles) north from Moscow, Russia, on Dec. 6, 2014. McDonalds says it's started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia is no longer tenable, nor is it consistent with McDonalds values. The Chicago-based company had temporarily closed its stores in Russia but was still paying employees. (AP Photo/FILE)
Read more: https://apnews.com/article/russia-ukraine-2f6b8fc85d7b06090b9922e74a2445a7
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Irish_Dem
(46,422 posts)IronLionZion
(45,380 posts)Irish_Dem
(46,422 posts)My first comment was more metaphorical than practical.
IronLionZion
(45,380 posts)Evolve Dammit
(16,692 posts)I also hope the displaced workers find decent employment. I'm getting a sausage biscuit...
PatSeg
(47,238 posts)really has any "values", but this is definitely the right thing to do. It is also good for the company's image. Hope more companies do the same thing.
Hey, I wonder if Trump still wants to build a Trump Tower in Moscow!
C Moon
(12,208 posts)Talitha
(6,555 posts)Mosby
(16,252 posts)They couldn't find beef that met their quality standards so they had to start there own cattle ranches.
Mawspam2
(722 posts)Their burgers give me terrible gas that I don't get from any other chain. I only go to McDonald's for the chicken nuggets.
cstanleytech
(26,217 posts)McDonalds which tastes similar to their disgusting so called ketchup.
cstanleytech
(26,217 posts)the same name and menu?