Russia's Microsoft Office challenger forced to shut down offices and fire workers as reports claim it is losing millions

Microsoft Excel in use.

• MyOffice closes St. Petersburg and Innopolis development centers, moving remaining staff into Kaspersky Lab's Moscow office after restructuring
• Parent company New Cloud Technologies restated its 2025 accounts in June 2026, raising the net loss from 4.02 billion to 8.82 billion rubles, roughly $107 million, while revenue halved to about 1 billion rubles
• Kaspersky Lab, which owns 68.8%, has moved the asset to "slow burn" mode, with its CEO saying publicly that import substitution does not work in the office segment

Russia's flagship attempt to replace Microsoft Office has closed the office where the product was actually built.