The Golden Arches will soon no longer be in Russia, as McDonald's end its thirty-year experiment with the former Communist stronghold. After temporarily closing all of it's restaurants, and continuing to pay its 67,000 employees in Russia, they've decided that "doing business in Russia is no longer tenable."
McDonald's became the symbol of glasnost in action 30 years ago when it opened its first restaurant in Moscow. But after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, McDonald's has decided to leave Russia altogether.
The burger chain will sell its Russia business, saying the "humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald's to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald's values."
In March, shortly after the war began, McDonald's followed other Western companies and temporarily shut down its restaurants in Russia.
Once the sale is finalized, the Russian restaurants will be "de-Arched," meaning the locations will no longer be allowed to use the McDonald's name, logo or menu. McDonald's (MCD) said its employees will still be paid until the transaction closes and that "employees have future employment with any potential buyer."
And the moment in 1990 when they opened their first. It's hard to overestimate the cultural impact it had there.
And CNN's announcement tweet.