McDonald’s to sell its Russian business, try to keep workers

McDonald’s to sell its Russian business, try to keep workers

Washington: American fast food giant McDonald announced that it had started the process of selling its Russian business, Khaleej Times reported on Monday.
McDonald’s had been the first American fast food company to open its restaurant in Russia some three decades ago and its selling of its business in the host country is another symbol of the increasing Russian isolation over its war in Ukraine.
The company, operates 850 restaurants in Russia that employs 62,000 people, and pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”
The Chicago-based fast food giant had announced in early March that it was temporarily closing its stores in Russia but would continue to pay its employees. But on Monday without naming a prospective Russian buyer, McDonald’s announced that it would seek one to hire its workers and pay them until the sale closes.
As McDonald’s now tries to sell its restaurants, the company said it plans to start removing golden arches and other symbols and signs with the company’s name, adding that it will keep its trademarks in Russia.
UN

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