Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.
Starbucks’ move follows McDonald’s exit from the Russian market last week. McDonald’s is selling its stores -- which are almost all owned by the company -- to an existing Russian franchisee. The stores won’t be allowed to use McDonald’s name or menu.
Starbucks entered the Russian market in 2007. In early March, after the Russian invasion of Ukraine, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Starbucks Will Exit Russia After 15 Years, Closing 130 Licensed CafesThe coffee chain has 130 locations in the country, which account for less than 1% of its annual revenue.
Read more »
Starbucks to end business in RussiaStarbucks Corp. is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the market.
Read more »
Starbucks leaving Russian market, shutting 130 storesStarbucks is pulling out of the Russian market. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs. Starbucks' move follows McDonald's exit from the Russian market last week.
Read more »
Starbucks Will Exit Russia After 15 Years, Closing 130 Licensed CafesThe coffee chain has 130 locations in the country, which account for less than 1% of its annual revenue.
Read more »
Starbucks to end business in RussiaStarbucks Corp. is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the market.
Read more »
Deaths as fire rips through Philippine ferryBlaze breaks out on ferry carrying more than 130 passengers and crew, leaving at least seven dead and prompting search for missing, officials say.
Read more »