Starbucks completing exit from Russia
Starbucks Corp. (Nasdaq: SBUX) is completing its exit from Russia two months after the Seattle coffee maker paused operations there following the country's invasion of Ukraine.
The company opened its first Russian location in 2007, eventually licensing 130 stores that employed a total of nearly 2,000 people. When Starbucks temporarily closed its Russian stores in March, the company also paused all shipments of its products there.
In a letter to employees Monday, Starbucks said it would continue paying its Russian employees for six months and provide other assistance as they transition to new jobs.
Last week, McDonald's became one of the largest U.S. retailers to permanently exit the country after more than 30 years there.
https://www.bizjournals.com/seattle/news/2022/05/23/starbucks-russia-exit.html