IKEA stores owner Ingka to pay Russia staff through August [Reuters]
McDonald's Corporation (MCD)
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Source: Reuters
IKEA stores owner Ingka to pay Russia staff through August By Anna Ringstrom 3 Min Read STOCKHOLM (Reuters) - IKEA stores owner Ingka Group has extended the period it will pay around 12,000 staff in Russia by three months, through August, and may continue to pay workers beyond that, its retail manager said in an interview. The world’s biggest furniture brand in early March said it would temporarily close stores and pause sourcing in Russia, citing supply chain disruption and challenging trading conditions due to Russia’s invasion of Ukraine. At that time, it said all affected staff would be paid, in roubles, at least through May. “We have managed to prolong that to six months,” Ingka’s Retail Manager Tolga Oncu told Reuters. “We keep monitoring, analysing, looking at what’s happening and will make decisions as we go forward.” A flood of Western companies have paused operations in Russia due its invasion of Ukraine and the resulting sanctions against Moscow, and a growing number of bu
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