Starbucks is closing 130 stores in Russia after doing its business for 15 years. Starbucks entered the Russian market in 2007.
US coffee chain giant Starbucks said in a memo to employees on Monday that it is planning on closing its 130 locations in Russia, news agencies have reported.
The company is planning to pay its almost 2,000 employees in Russia for another six months to help them transition.
The coffee chain had temporarily shut down its stores in March over Russia’s invasion of Ukraine.
The move comes after McDonald’s decided to sell off its 850 restaurants in Russia last week. Starbucks is now the second major exit of a global American brand from Russia.
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