Ikea to sell factories and cut jobs in Russia following its invasion of Ukraine

Ikea plans to sell factories, close offices and cut its workforce by nearly 28,000 people in Russia compared to Moscow invasion of ukrainethe Swedish furniture retailer announced on Wednesday.

In early March, the world’s biggest furniture brand announced that it would temporarily close stores and postpone sourcing in Russia, as it and other companies decided to comply with western sanctions.

Ikea’s retail business in Russia and Belarus will remain closed and its workforce reduced, affecting “many colleagues”, the company said on Wednesday. Ikea came to Russia in 2000.

“Circumstances have not improved and the devastating war continues,” Ikea said in the statement. “Businesses and supply chains around the world have been heavily impacted and we don’t believe it is possible to resume operations anytime soon.”

Russians flock to rebranded former McDonald’s restaurant


The company will start looking for buyers for its four factories in Russia, permanently close two purchasing and logistics offices in Moscow and Minsk and reduce its workforce, it said.

The past few weeks have seen both the Dismantled Starbucks and McDonald’s Golden Arches Logo in Russia after both channels left the country because of its war in Ukraine. Russians saw more than a dozen McDonald’s restaurants reopen on Sunday under new Russian branding and ownership.

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