U.S.: McDonald’s leaves Russia while ensuring its employees’ jobs

On 16 May, and after 32 years in business in the country, the American fast-food chain announced it was withdrawing from Russia, due to Moscow’s invasion of Ukraine. McDonald’s opened its first restaurant in 1990 in Moscow’s Pushkin Square and was one of the first American companies to set up operations in Russia. In making this announcement, McDonald’s President and Chief Executive Officer, Chris Kempczinski, said “We have a commitment to our global community and must remain steadfast in our values.” The fast-food chain, which has 847 restaurants and 62,000 employees in Russia, will sell its entire business to a local entity, the name of which is yet unknown. The buyer will not be able to use the McDonald’s name, logo, or menu. On 08 March McDonald’s temporarily closed all its Russian establishments and suspended operations in the country. However it has kept its staff on the payroll and will continue to pay its employees until the sale is completed and is seeking to ensure that they have employment with the potential buyer.