McDonald’s said Tuesday it will close all of its 850 stores in Russia (temporarily, at least) due to Russia’s invasion of Ukraine, per The Associated Press.
- All 62,000 Russian employees will still be paid, McDonald’s said.
What they’re saying: “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” McDonald’s President and CEO Chris Kempckinski said, per The Associated Press.
- “The situation is extraordinarily challenging for a global brand like ours, and there are many considerations,” Kempckinski said.
Flashback: #BoycottMcDonalds and #BoycottCocaCola were trending on Twitter over the weekend as people protested the companies for continuing their businesses in Russia, as the Deseret News’ Ashley Nash wrote.
- McDonald’s has a large influence in Russia with its Russian stores, according to BBC. In fact, Russia accounts for 9% of McDonald’s entire revenue, according to the Independent.
Meanwhile: Pepsi is exploring options for what to do with its business in Russia, including the possibility of writing off the business, per The Wall Street Journal.