McDonald’s has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major western corporation to exit Russia since it invaded Ukraine in February. The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values”.
The Chicago-based company announced in early March that it was temporarily closing its stores in Russia, but would continue to pay employees. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes.
It did not identify a prospective buyer. Chief executive Chris Kempczinski said the “dedication and loyalty to McDonald’s” of employees and hundreds of Russian suppliers made it a difficult decision to leave.
