IKEA has cut ten thousand jobs in Russia in response to Russian President Vladimir Putin’s invasion of Ukraine.
This year, the Netherlands-based company stopped sales in Russia and closed its 17 stores in the country.
It made the announcement after other major Western retailers including Zara, H&M, Marks&Spencer and Nike also pulled out of the country.
Speaking today, Jesper Brodin said they “had to say goodbye” to around 10,000 of the 12,000 retail staff in their Russian stores.
In the year to August 2021, Russia was IKEA’s 10th largest retail market, accounting for 4 percent – or 1.8 billion euros – of its trade.
Otherwise, many international companies have already closed their shops in the Russian state since the unjustified invasion of Ukraine.