Starbucks leaving Russian market, shutting 130 stores

In a memo to employees Monday, the Seattle coffee giant said it decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.

Starbucks' stores are owned and operated by Alshaya Group, a Kuwait-based franchise operator. A spokesperson for Alshaya referred questions to Starbucks on Monday. People are also reading… National News De-Arching: McDonald's to sell Russia business, exit country But a few days later __ after Coca-Cola, PepsiCo, McDonald's and others temporarily halted their business in Russia __ Starbucks changed course and temporarily closed its Russian stores.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »

Starbucks leaving Russian market, shutting 130 storesStarbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.
Source: PennLive - 🏆 463. / 53 Read more »

Starbucks leaving Russian market, shutting 130 storesStarbucks is pulling out of the Russian market. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs. Starbucks' move follows McDonald's exit from the Russian market last week.
Source: YahooNews - 🏆 380. / 59 Read more »