McDonald’s said Monday that it has already begun the process of selling its Russian business, which includes 850 restaurants and employs 62,000 people, making it the newest company in the West since then. Ukraine invaded In February.
The fast food giant stressed the humanitarian crisis caused by the war and said that maintaining its business in Russia “is no longer feasible and does not meet McDonald’s values”.
The Chicago-based company announced in early March that it would temporarily close its stores in Russia but continue to pay its employees. On Monday, he said he would try to get a Russian buyer to take these workers and pay them before the sale closes. It has no identified potential buyers.
CEO Chris Kempczynski said the “loyalty and honesty” of McDonald’s employees and hundreds of Russian suppliers made it difficult to leave.
“However, we have a commitment to our global community and we need to stand firm on our values,” Kempczynski said in a statement, “and our commitment to our values means we can no longer keep the glowing arches there. . “
When it comes to selling its restaurants, McDonald’s said it plans to begin removing gold arches and other symbols and signs in the company name. He said he would keep his brands in Russia.
The first McDonald’s in Russia opened in the heart of Moscow more than three decades ago, after the fall of the Berlin Wall. It was a powerful symbol of the mitigation of Cold War tensions between the United States and the Soviet Union.
McDonald’s was the first American fast food restaurant to open in the Soviet Union, which collapsed in 1991. McDonald’s decided to stay away like other American food and beverage giants including Coca-Cola, Pepsi and Starbucks. Suspended or closed operations in Russia Against the backdrop of Western sanctions.
From the corporations, British energy giants Shell AND BP expelled French carmaker Renault from Russia, thus damaging the sale of their stake there. Other companies remained even on a side Several shots face to face.
McDonald’s said it expects to charge $ 1.2 billion to $ 1.4 billion in revenue left by Russia.
Its restaurants in Ukraine are closed, but the company says it continues to pay full salaries to employees there.
McDonald’s has more than 39,000 locations in more than 100 countries. Most are owned by franchises: only about 5% are owned and operated by the company.
McDonald’s said the move to Russia would not change its forecasts by adding 1,300 restaurants this year, which would help boost the company’s sales by about 1.5%.
Last month, McDonald’s said it generated $ 1.1 billion in the first quarter, up from $ 1.5 billion last year. Revenue was nearly $ 5.7 billion.
Source: Huffpost
