Starbucks PULLS OUT – Radical New Change Announced!
(ConservativeHub.com) – Russia’s invasion of Ukraine has encouraged many companies to pull their operations out of the aggressive nation in protest. Starbucks joined companies like McDonald’s, Levi’s, Mastercard, and Visa and immediately suspended operations there. Now, the Seattle-based coffee chain is leaving the country for good.
On Monday, May 23, Starbucks announced it would officially exit Russia and “no longer have a brand presence in the market.” The popular coffee chain previously condemned the Russian invasion of Ukraine. While it’s leaving, Starbucks executives want to ensure their employees are not left high and dry. It has committed to supporting its almost 2,000 Russian employees by paying them for six months and assisting them in transitioning to new employment.
POLITICO Europe shared more about Starbucks’ timeline in the nation:
American coffee giant Starbucks is leaving Russia after 15 years in the country.https://t.co/Qr1B3ncjjs
— POLITICOEurope (@POLITICOEurope) May 23, 2022
The 130 Starbucks stores in Russia accounted for under 1% of the company’s annual profit, according to CNBC. So, the move is unlikely to hurt the coffee behemoth much in the long run.
Starbucks is just one of multiple companies to suspend operations or leave Russia entirely. Others include ExxonMobil, Shell, IKEA, and British American Tobacco. Starbucks’ decision also comes right on the heels of a McDonald’s announcement last week that it would be permanently ending service in Russia. These business decisions show a clear example of companies using their retail activity and revenue to support or boycott nations they disagree with, just like Americans do when they spend their money with various companies they support and trust.
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