McDonald’s announced on Tuesday, March 8, that it will be closing down its stores in Russia. The burger joint said that all of its 850 locations in the country would temporarily cease operations, and the decision comes almost two weeks after Vladimir Putin ordered the Russian troops to attack Ukraine for invasion.
As mentioned in the Los Angeles Times, McDonald’s will continue to pay its staff in Russia despite the closure of its stores. All of its 62,000 employees will still receive their salaries, and this was personally confirmed by the fast-food chain’s president and chief executive officer, Chris Kempczinski, via an email to the workers.
In his memo to employees and franchisees, the McDonald’s chief said that members of the Russian staff have poured their heart and soul into the company’s brand. This suggests that this is Kempckinski’s reason for making the decision to continue with the payments even if the employees are not working for a while. He is saying the workers deserve to be paid for their dedication to serving the company.
Kempczinski further said that at the moment, it is hard to discern when McDonald’s operation in Russia is resuming. Right now, their concern is everyone’s safety due to the situation.
“In recent days, I have spoken with and heard from many in our System about our operations in Russia. The situation is extraordinarily challenging for a global brand like ours, and there are many considerations,” he said in the open letter. “For 66 years, we have operated with the belief that communities are made better when there’s a McDonald’s nearby.”
The CEO went on to add, “McDonald’s has operated in Russia, we have become an essential part of the 850 communities in which we operate. At the same time, our values mean we cannot ignore the needless human suffering unfolding in Ukraine.”
He also shared that the decision to temporarily close the 850 outlets and halt all operations in the market was done after closely consulting with the company’s chairman, Rick Hernandez, and the McDonald’s Board of Directors last week. Meanwhile, the company finally stopped its operations in Russia after drawing criticisms for not closing its business despite the war.


Asian Currencies Mixed as Dollar Holds Near Two-Month High
SMBC Eyes 20% VPBank Stake in Vietnam Expansion
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit
Novo Nordisk Strikes €1.17 Billion Nanexa Drug Delivery Deal
Solidigm Eyes $150 Billion IPO as SK Hynix Expands AI Storage Push
FDA Approves Mirum’s Atebrioz for Rare Bone Disorder FOP
Japanese Yen Rebounds as Trump Flags Currency Weakness
Select Water Solutions Shares Surge on $700 Million Pilot Water Deal
Tesla Semi Rollout Begins at Nevada Factory
Costco Revenue Beats Estimates as Inflation Drives Bulk Shopping
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets
OpenAI Agent Breaches Australia Medicare Data Portal
Dollar Holds Near Two-Month High as Yen Approaches 160
US Backs Musk in Fight Against EU’s €120 Million X Fine
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit
Oura IPO Draws Strong Demand Ahead of $2.2 Billion Offering 



