Many of the company’s employees will be laid off. It was also reported that the import and export of IKEA goods to Russia and Belarus is not planned to be restored.
The famous furniture retailer IKEA is selling four of its factories in Russia and is cutting staff. The company said it “does not see an opportunity to resume sales in the foreseeable future.” The company sent a corresponding statement to the Russian media.
“Over the past few months, the situation in business processes and supply chains around the world has deteriorated drastically. As a result, we see no opportunity to resume sales in the near future. As a result, the Inter IKEA Group and Inga The group decided to reduce the size of the business in Russia ”, the message said.
The company said it would sell its four factories in the Leningrad, Kirov and Novgorod regions, and was already looking for buyers. IKEA’s retail business in Russia will “remain paused”, which will lead to staff cuts that will affect “many employees”. How many people will be laid off is not specified.
It was noted that the import and export of IKEA goods to Russia and Belarus is not planned to be restored.
The company has already started looking for new owners for its four plants. According to the company’s press service, IKEA-owned MEGA shopping centers will continue to operate in Russia, but IKEA stores themselves will be closed.
It will be recalled that last month Siemens announced the termination of business in Russia.
It was previously reported that the world’s largest carrier AP Moeller-Maersk A/S has stopped working in Russia and is selling assets.
French financial conglomerate Societe Generale has left Russia
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.