After 15 years of operating in Russia, the American coffeehouse chain Starbucks will exit the country.
The chain follows many notable big businesses such as McDonalds, Netflix, Exxon Mobile and Coca-Cola, who have all ceased operations in Russia following the war in Ukraine.
Starbucks had already paused operating in Russia back on March 8. However, they will now permanently keep their doors shut.
Starbucks announced the decision on Monday, which will see all 130 locations in the country, which account for less than 1% of the company’s annual revenue, cease operating.
The coffee company did not disclose the exact financial impact of the suspension of business operations.
Former CEO, Kevin Johnson, had pledged to donate royalties from the Russian business to humanitarian causes, however, he will retire April 4th.
In a positive note for employees, Starbucks stated it would pay its nearly 2,000 Russian workers for six months to help them transition to new opportunities outside of the coffee chain.
