Advertisement

Starbucks temporarily closes its cafes in Russia

  • Web Desk
  • Share

Advertisement

According to a press release issued on Monday, coffee giant Starbucks has left Russia and will no longer have a presence there.

The coffee company claims to have been in Russia for 15 years and has suddenly closed all of its 130 licensed cafés.

Starbucks has followed in the footsteps of McDonald’s and Exxon Mobil in entirely exiting Russia.

Starbucks says it will “help” its approximately 2,000 Russian employees, including six months’ compensation and assistance for partners transitioning to new jobs outside of Starbucks.

This follows Starbucks CEO Kevin Johnson’s announcement in March that the company had halted all operations in Russia, including the distribution of all Starbucks items.

Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Live News.


Advertisement
End of Story
BOL Stories of the day
Hong Kong court hands down lengthy jail terms over 2019–2020 bomb plots
Pakistan warns ‘Zero Tolerance’ as Afghan Taliban resist counterterror demands
Unexploded bombs threaten Gaza residents as search for captive bodies continues
US imposes sanctions on Colombian President over alleged drug trafficking
Palestinian factions agree to hand over Gaza governance to technocrats
Field Marshal receives Grand welcome in Egypt & Presented Guard of Honor
Next Article
Exit mobile version