The coffee giant announced Monday that it will no longer have a brand presence in Russia. Starbucks has 130 locations in the country, which account for less than 1% of the company’s annual revenue. They are all licensed locations, so the Seattle-based company itself doesn’t operate them.Starbucks said it will pay its nearly 2,000 Russian workers for six months and help them transition to new opportunities outside of the coffee chain.
Both consumers and investors pressured Western companies like Starbucks to cut ties with Russia to show opposition to the Kremlin’s war with Ukraine, but unwinding licensing deals takes time. Starbucks. The pause included shipping all Starbucks products and temporarily shuttering cafes. In its latest quarterly results released in early May, the company did not disclose the financial impact of the suspension of business operations. Former CEO Kevin Johnson had pledged to donate royalties from the Russian business to humanitarian causes.for over 30 yearsThe fast-food giant said the suspension of its sizable Russian and Ukrainian operations cost it $127 million in its first quarter. The two markets accounted for 9% of its revenue in 2021.
Can they exit the US too please!
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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. EMP SAYS: Wait till Putins gone. All these Corps. are going to trample each other to get back into Russia. 😆 lol Russia is finished it will take decades to get back to normal for them About Time
Source: nbcchicago - 🏆 545. / 51 Read more »
Starbucks exits Russia over Ukraine war, closes 130 storesStarbucks said Monday it will permanently close up shop in Russia, joining hundreds of other western companies who have exited the country in response to the Kremlin’s invasion of Ukraine. And? This is the Best things that could have happened to Mother! No more bloated, Cancer, diabetes, poor circulation, kidney stones, lifestyle diseases, Heart Attack... The Russian people should be rejoicing right now! The men will stop growing breasts now! Hosannah 🙏 I hope they pull out or Ireland too
Source: nypost - 🏆 91. / 67 Read more »
Starbucks pulls out of Russia, shutting down more than 100 storesStarbucks said on Monday that it is pulling out of the Russian market over Vladimir Putin's invasion of Ukraine.
Source: dcexaminer - 🏆 6. / 94 Read more »
Starbucks in Russia closing for good amid Ukraine warAs the Russia-Ukraine war continues, Starbucks has decided to leave Russia permanently. Employees in the country, which number about 2,000, will get paid for six more months. Starbucks will also help them look for new jobs outside of the company. ☕ All this performance, only to fire their employees who are trying to unionize i vecchi lavori che non tramontano mai Everyone still falling in line, just like with covid. So petty. Streaming service was pulled. No credit card use. McDonald’s. Starbucks. Starbucks should just go away entirely. But seriously, there are millions of good folks in Russia who don’t support the war. This is absurdity.
Source: ABC7 - 🏆 67. / 68 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. Wonder how many of these franchises are in breach of contract. Good
Source: MarketWatch - 🏆 3. / 97 Read more »
Russia-Ukraine live updates: Russia publishes list of Americans banned from countryLATEST: Ukrainian Pres. Zelenskyy speaks at World Economic Forum in Davos, Switzerland, calling on the West to recognize as a mistake the refusal to impose preventive sanctions on Russia and take decisive steps in that direction. This is the puppet who is trying to tell people to wake up. We are awake and want nothing to do with your NWO GreatReset KlausSchwab WEF22 WHOTreaty Davos2022 killing your own people but remember the people put you there and they can take it away as well better believe it. ZelenskyyUa should have called on more than just West. Did the war take a break for his trip? This Forum is what is causing all this chaos around the world. Worlds Evelist Fucks!
Source: ABC - 🏆 471. / 51 Read more »