IKEA has fired 10,000 workers in Russia after a fallout over the Ukraine war. The Swedish furniture giant halted operations in Russia in March following Moscow's invasion of Ukraine.
The chain already "had to say goodbye" to around 10,000 of its 12,000 employees in Russia, Jesper Brodin, the chief executive of the holding company Ingka that manages most of Ikea's stores, told AFP. Today it posted a six per cent rise in full-year sales, described as a "challenging" year due to inflation and its decision to scale back operations in Russia.
H&M, IKEA and Nike are set to join scores of brands that have suspended operations in Russia, reports the Mirror, due to the country sending thousands of its troops to Ukraine on February 24. IKEA, the world's biggest furniture brand, shut down its stores in March and said it would sell factories, close offices and reducing its 15,000-strong workforce in Russia.
