McDonald’s is pickled.
Fast Food Titan announced last month that it would temporarily close nearly 850 of its locations in Russia due to the country’s invasion of Ukraine.
McDonald’s also closed its restaurants in Ukraine, costing the network $ 127 million last quarter. CNN.
McDonald’s last month It can be read in the statement That it will continue to pay full salaries to all Ukrainian and Russian employees. The company also donated $ 5 million to the Employee Assistance Fund.
Personnel costs, including rent and supplies, cost the company $ 27 million. Another huge $ 100 million deficit resulted from food and other unused items that now need to be thrown away.
“The results include … $ 100 million in the company’s supply chain costs for inventory that could be damaged due to the temporary closure of restaurants,” the fast food powerhouse said in a statement.
In the spirit of optimism for the company’s recovery, CFO Kevin Ozan said, “We expect this to be temporary and we certainly won’t take this decision lightly, but for us it does what we think is right. Do it for global business as well as for local people ”.
So far, no further updates have been published on the company’s plans for its locations in Ukraine and Russia.
“As we move forward, McDonald’s will continue to review the situation and determine if further action is needed. At this point, it is impossible to predict when we will reopen our restaurants in Russia.
Source: Huffpost
