Barry Tech Review

Best review technology by Barry

McDonald’s, Starbucks, Coke, Pepsi join exodus from Russia


McDonald’s, Starbucks, Coca-Cola, PepsiCo, General Electric — ubiquitous global brands and symbols of American corporate power — have all temporarily closed their operations in Russia in response to Russia’s invasion of Ukraine. announced that it would stop at. In an open letter to employees, McDonald’s President and CEO Chris Kempczinski said, “Our values ​​dictate that we cannot ignore the needless human suffering unfolding in Ukraine. The Chicago-based burger giant says it will temporarily close its 850 locations but will continue to pay its 62,000 employees in Russia who are “putting their heart and soul into the McDonald’s”

But on Tuesday, the company changed its policy and announced it would be temporarily closing those stores.Alshaya Group will continue to pay Starbucks’ 2,000 Russian employees, said Starbucks president and CEO Kevin Johnson. (Kevin Johnson) said in an open letter to employees. “In this dynamic environment, we will continue to make decisions that align with our mission and values ​​and communicate transparently,” Johnson said.

Kempczinski said it was impossible to know when the company could reopen stores. “The situation is very difficult for a global brand like ours and there are many considerations,” Kempczynski said in his letter. For example, McDonald’s works with hundreds of Russian suppliers and serves millions of customers every day.
Last Friday, Starbucks announced that it would donate profits from its 130 Russian stores owned and operated by Kuwait-based franchisee Arshaya Group to humanitarian efforts in Ukraine.

The Coca-Cola Company announced it would cease operations in Russia, but gave few details. Coca-Cola’s partner, Switzerland-based Coca-Cola Hellenic Bottling Company, owns 10 bottling plants in its largest market, Russia. Coke owns his 21% stake in the Coca-Cola Hellenic Bottling Company. PepsiCo and General Electric have announced the partial closure of their Russian operations. Buy, New York-based Pepsi said it would stop selling the beverage in Russia.

Two exceptions, according to GE, are essential medical equipment and support for existing electricity supply services in Russia. McDonald’s is one of the companies that has suffered the biggest economic losses. Unlike Starbucks and other fast food companies such as KFC and Pizza Hut that have franchised Russian stores, McDonald’s owns 84% ​​of its Russian stores.

It will also suspend all capital expenditures and promotional activities. However, the company said it would continue to produce milk, baby food and baby food to continue supporting the 20,000 Russian employees and 40,000 Russian farm workers who are part of its supply chain. “More than ever, we must remain true to the humanitarian side of our business,” PepsiCo CEO Ramon Laguarta said in an email to employees. General Electric said in a Twitter post that it was partially suspending its operations in Russia.

McDonald’s has also temporarily closed 108 of its own restaurants in Ukraine while continuing to pay its employees. In recent regulatory filings, McDonald’s said Russian and Ukrainian restaurants contributed 9% of his annual sales last year, or about $2 billion.

News Summary:

  • McDonald’s, Starbucks, Coke, Pepsi join exodus from Russia
  • Check all news and articles from the latest Business news updates.

Leave a Reply

Your email address will not be published. Required fields are marked *