The war in Ukraine has been going on for nearly two weeks, and this has led hundreds of companies from around the world to cease operations in Russia - and tonight (Tuesday) three more giant companies announced their joining the boycott: Coca-Cola, McDonald's and Starbucks.
Each of the companies has announced that it is suspending its activities in Russia, following its invasion of Ukraine.
"Our hearts go out to the people who are being immorally affected by the dramatic events in Ukraine," said Coke, owner of Coca-Cola.
In Russia they will have to say goodbye to them.
Coca-Cola cans, Photo: Reuters
At the same time, McDonald's has announced that it will close all 847 branches in Russia and that it will suspend operations in the country until further notice.
This could be a severe economic blow for the fast food company, as unlike other countries where the branches operate mainly through franchisees, 84% of the branches in Russia, which has about 62,000 employees, are operated by the chain itself.
McDonald's branches in Russia and Ukraine accounted for about 9% of the company's revenue last year.
"We work with hundreds of local Russian suppliers to provide our millions of customers with our menu every day anew," said company CEO Chris Kempaczynski. "At the same time, we can not ignore the suffering that people are going through in Ukraine."
As mentioned, Starbucks has also joined the boycott, and it has announced that it will close all 130 branches in Russia as well as in Ukraine, which are operated by franchisees.
Apparently the American coffee shop chain will not have to worry particularly about its revenue, as the branches in both countries are responsible for less than one percent of its global revenue.
Despite the closure, CEO Kevin Johnson has announced that the company will provide assistance to all of its employees living in Russia, which number close to 2,000 people.
Close its 130 branches.
Starbucks Branch (Archive), Photo: Getty Images
Those who have not yet joined the boycott of Russia are PepsiCo, the giant food company that owns Pepsi Cola and Saban Up drinks, Prito Lay chips and more.
The Wall Street Journal reported tonight that the company had begun exploring the possibility of boycotting Russia, but its executives refused to join the hundreds of other companies that did so for fear of the consequences the move could have for the company, including thousands of employees and millions of customers in Russia. Sells milk and baby food compounds.
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