Asia, India, China, Middle East, Fast Food/Quick Service Restaurants, North America

McDonalds to exit Russia after three decades

McDonald ’s Corp. said it would quit Russia and sell its business there, ending more than three decades in the country over its invasion of Ukraine.

As Michael Wright and Dean Seal reports for The Wall Street Journal, the fast-food giant joins a raft of Western companies, from auto makers to oil producers, exiting Russia – after in some cases having initially paused operations – as the war in Ukraine rumbles on.

McDonald’s said in March that it was temporarily closing its 847 restaurants in Russia, while continuing to pay the 62,000 people it employs there. The Chicago-based company owns and operates 84% of its restaurants in Russia, with the rest run by franchisees.

On Monday, McDonald’s said that continued ownership of its business in Russia was no longer tenable nor “consistent with McDonald’s values.”

Source: The Wall Street Journal. Full story and related video here
Photo: A McDonald’s in Moscow. Credit and courtesy The Wall Street Journal
Related: McDonald’s to leave Russia for good after 30 years

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