The burger giant said it will continue paying its 62,000 employees in Russia “who have poured their heart and soul into our McDonald’s brand.”
But in an open letter to employees, McDonald’s President and CEO Chris Kempckinski said closing those stores for now is the right thing to do.
McDonald’s could take a big financial hit because of the closures. In a recent regulatory filing, the Chicago-based company said its restaurants in Russia and Ukraine contributed 9% of its annual revenue, or around $2 billion. McDonald’s said Tuesday it has donated more than $5 million to its employee assistance fund and to relief efforts. It has also parked a Ronald McDonald House Charities mobile medical care unit at the Polish border with Ukraine; another mobile care unit is en route to the border in Latvia, the company said.