McDonald's to Sell Its Russian Business After 32 Years; Will Try to Keep Workers

5/16/2022 1:32:00 PM

McDonald's to Sell Its Russian Business After 32 Years; Will Try to Keep Workers

Mcdonalds

McDonald's to Sell Its Russian Business After 32 Years; Will Try to Keep Workers

The first McDonald's in Russia was a powerful symbol of the easing of Cold War tensions between the United States and Soviet Union.

Getty ImagesMcDonald's said Monday that it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since itinvaded Ukrainein February.

The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer.

Read more:
NBC Chicago »

Russia holds annexation votes; Ukraine says residents coerced

The referendums are aimed at annexing four occupied regions of Ukraine, drawing condemnation from Kyiv and Western nations which dismissed the votes as a sham and pledged not to recognize the results. Read more >>

Russia-Ukraine war: Zelenskyy warns Russian blockade could lead to food shortageUKRAINE-RUSSIA LATEST: • Russia's blockade of Ukrainian ports is provoking a food crisis, President Zelenskyy says • Mariupol officials warn of humanitarian crisis Green protesters 🪧 hit the streets! Then March to the courthouses!! 💚✅♻️ Maybe talk about this ?

McDonald's to sell its Russian business amid Ukraine warMcDonald's pointed to the humanitarian crisis caused by the war in Ukraine, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”

Sony aims to sell 18 million PS5 consoles this year amid China lockdown riskSony Group Corp on Tuesday said it planned to sell 18 million PlayStation 5 consoles this business year as robust game sales helped it more than double fourth-quarter operating profit.

‘Stardew Valley’ has sold more than 20 million copies | EngadgetSix years after its initial release, Stardew Valley has sold more than 20 million copies..

Helicopters vs. Homeowners: A Very Hamptons FightThe East Hampton Airport is set to close on May 17, but frequent fliers, business owners and others have filed lawsuits to keep it open.

A Ukrainian Boy’s War Diary Tells of Grief: ‘I Cannot Imagine My Life Without Parents’“I have lost count of how many times we went to the cellar but that’s OK.” The first entry in Tymofiy Zozulia’s war diary was dated March 12. He didn't know yet that his mother and stepfather were already dead. Look who supports the dictatorial Arab states Look who supports the execution of gays and lesbians in Arab countries See who kills journalists and social activists in Arab countries Now understand why they want to eliminate the only democracy in the Middle East Israel hypocrite Sorry, I've been forced for decades now to hear abt Ann Frank's war diary, I'm not participating in another eastern euro 80 year grift.

Updated 27 mins ago Getty Images McDonald's said Monday that it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February.3h ago / 12:00 PM UTC Moscow will be"forced to take retaliatory steps," if Finland joins NATO, Russia's foreign minister said Saturday.Russia since it invaded Ukraine in February.Register now for FREE unlimited access to Reuters.

The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.” The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees. “Russia will be forced to take retaliatory steps (both military-technical and other) in order to stop threats to its national security arising in this regard,” he added. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer. Share this - Mariupol officials warn of humanitarian crisis Artem Grudinin Jason Abbruzzese 4h ago / 10:42 AM UTC Mariupol officials are warning that a humanitarian crisis is developing in the city, which is now almost entirely occupied by Russian forces. CEO Chris Kempczinski said the “dedication and loyalty to McDonald's” of employees and hundreds of Russian suppliers made it a difficult decision to leave. Register now for FREE unlimited access to Reuters.

Stay informed during the severe weather season with our local news and weather app. For the majority of Mariupol residents, it is necessary to go a long way to water supply points (barrels or water carriers),” Petro Andryushchenko, adviser to the city's Mayor Vadym Boychenko, said Saturday in a Telegram post that was translated by NBC News. "However, we have a commitment to our global community and must remain steadfast in our values," Kempczinski said in a statement, "and our commitment to our values means that we can no longer keep the arches shining there. Get the NBC 5 Chicago app for .