Last Updated on 3 months by Mukesh
Telecom companies Ericsson and Nokia have given deadlines for exiting the Russian market. While the Swedish giant will be winding down its operations in the coming months, its Finnish rival Nokia will bring down shutters by the year-end.
“By the end of the year, the vast majority of our employees in Russia will have moved on from Nokia, and we have vacated all of our offices. We will retain a formal presence in the country until the legal closure is completed.” stated a Nokia spokesperson.
It is pertinent to note that Ericsson had sent its 400-odd Russian employees on paid leave earlier this year while earmarking a sum of $95 million related to the moving expenses in its accounts book.
unkindwhile, Nokia, which housed over 2,000 employees in the country had closed most operations, barring the maintenance of critical networks to fulfil the obligations.
Ericsson and Nokia join the long list of more than 300 global companies to have exited the Russian market, ever since it invaded Ukraine.
As reported by WION, on Sunday, US-based multinational technology giant Dell Technologies announced that it had completely ceased its operations in Russia.
The company had halted the sales of its products and services in February, before closing the offices in mid-August.
“Back in February, we made the decision to not sell, service, or support products in Russia, Belarus, and the Donetsk and Luhansk regions of Ukraine, in addition to the already embargoed Crimea,” Dell spokesman Mike Siemienas was quoted as saying by Reuters.
As reported extensively by WION, brands like McDonald’s, Starbucks, Coca-Cola, Zara, H&M, and Netflix have all suspended operations in Russia. Spotify and Amazon have also hit a pause on their services in the country.
unkindwhile, Citi bank, Goldman Sachs, IBM, Intel, Snapchat and Twitter are few of the other banking and technological giants to turn their backs on Russia.
(With inputs from agencies)
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