McDonald's says that it 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.
ABC News foreign correspondent Tom Soufi Burridge discusses a warning from the U.S. director of national intelligence that Russia is preparing for a prolonged war and could resort to"drastic means."McDonald's is closing its doors in Russia, ending an era of optimism and increasing the country's isolation over its war inThe Chicago burger giant confirmed Monday that it is selling its 850 restaurants in Russia.
McDonald's said in early March that it was temporarily closing its stores in Russia but would continue to pay its employees. It was a costly decision. Late last month, the company said it was losing $55 million each month due to the restaurant closures. It also lost $100 million worth of inventory.Western companies have wrestled with extricating themselves from Russia, enduring the hit to their bottom lines from pausing or closing operations in the face of sanctions.
“The era where companies could avoid taking a stance is over,” Sytch said. “People want to be associated with companies that do the right thing. There’s much more to business —— and life —— than maximizing profit margins.” “It’s really painful to see the many years of gains on the democratic front being wiped out with this atrocious war in Ukraine," he said.“It’s impossible to predict what the future may hold, but I choose to end my message with the same spirit that brought McDonald’s to Russia in the first place: hope,” he wrote in his employee letter. “Thus, let us not end by saying, ‘goodbye.’ Instead, let us say as they do in Russian: Until we meet again.
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