Starbucks to Exit Russia, Close 130 Licensed Locations

Starbucks to Exit Russia, Close 130 Licensed Locations

Starbucks to Exit Russia, , Close 130 Licensed Locations.br On May 23, Starbucks announced br that it will exit the Russian market br after 15 years of operation. .br NBC reports that Starbucks has now joined br the ranks of western companies to withdraw br from Russia, including McDonald's and Exxon Mobil. .br NBC reports that Starbucks has now joined br the ranks of western companies to withdraw br from Russia, including McDonald's and Exxon Mobil. .br NBC reports that Starbucks has now joined br the ranks of western companies to withdraw br from Russia, including McDonald's and Exxon Mobil. .br Starbucks currently br has 130 locations br throughout Russia. .br NBC reports that all of those locations br are licensed and not operated directly br by the Seattle-based company. .br NBC reports that all of those locations br are licensed and not operated directly br by the Seattle-based company. .br According to Starbucks, the company br will continue to pay its nearly 2,000 Russian br workers for an additional six months.br The company also said that it will br help workers transition to new br opportunities outside of Starbucks.br NBC reports that Starbucks' business in Russia only accounts for 1 of the company's annual revenue. .br Meanwhile, McDonald's suspension of its operations br in Russia and Ukraine cost the company br $127 million in first quarter revenue.br Meanwhile, McDonald's suspension of its operations br in Russia and Ukraine cost the company br $127 million in first quarter revenue.br The Russian and Ukrainian br markets reportedly accounted br for 9 of McDonald's revenue in 2021. .br The fast-food chain br operated approximately br 850 restaurants in Russia. .br On May 19, McDonald's announced it would be selling those locations to a Siberian franchisee, who will then operate them under a new brand.


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Views: 65

Uploaded: 2022-05-23

Duration: 01:30

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