McDonald’s said will temporarily close 850 locations in Russia after the company took heat for staying silent on the war in Ukraine.
Highlights
- McDonald’s says it will temporarily close 850 locations in Russia.
- The decision comes nearly two weeks after Russian forces invaded Ukraine.
- PepsiCo, Starbucks and Coco-Cola also announced similar step-backs from the country.
- McDonald’s restaurants in Russia and Ukraine account for 2% of its systemwide sales, 9% of revenue and 3% of operating income.
- About 84% of McDonald’s Russian locations are owned by the company, while the rest are operated by franchisees.
- The company is paying full salaries for Ukrainian employees and has donated $5 million to its employee assistance fund, CEO Chris Kempczinski says.