McDonald’s said Tuesday, March 8, 2022, it is temporarily closing all of its 850 restaurants in Russia in response to the country's invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” McDonald's President and CEO Chris Kempczinski said in an open letter to employees. In a recent regulatory filing, McDonald's said its restaurants in Russia and Ukraine contribute 9% of its annual revenue, or around $2 billion last year. The company said it was also in talks with a franchisee to close all 50 Pizza Hut restaurants in Russia. It had announced Monday that it was donating all of the profits from its 1,050 restaurants in Russia to humanitarian efforts.

Source: The Star March 10, 2022 07:52 UTC