The company expects a financial impact of between $1.2 billion and $1.4 billion upon leaving the country.
McDonald’s announced, on Monday (16), that it will completely leave Russia and sell all the network’s operations in the country. In March, the company had announced the closure of 850 restaurants in Russian lands due to the invasion of Ukraine.
McDonald’s CEO Chris Kempczinski said the “humanitarian crisis caused by the war and the precipitous unpredictable operating environment led McDonald’s to conclude that continued ownership of the business in Russia is no longer sustainable or consistent. with McDonald’s values”.
“We are committed to our worldwide community and must remain uncompromising in our values,” Kempczinski said in a company statement.
Also according to CNN, once the restaurants are sold, the establishments will be dismantled and the locations will no longer be able to use the McDonald’s name, logo or menu. Employees of establishments will have their salaries paid until the time the transaction is completed.
According to G1, the company expects a financial impact of between US$ 1.2 billion and US$ 1.4 billion when leaving Russia, since the chain’s operations in the country represent 9% of the company’s total revenue and 3% of its operating profit.