Close to 200,000 employees risk losing their jobs in Moscow as foreign companies decide to leave the country, Moscow Mayor Sergei Sobyanin said on Monday.
Several multinational companies have halted their business in the Russian marketplace since the beginning of Russia’s invasion of Ukraine in late February.
According to the Mayor, Russian authorities are planning to set aside 3.36 billion rubles ($41 million) to support the employees of foreign companies.
Few companies, including McDonald’s and IKEA, have assured to pay salaries to employees even if their businesses are suspended in Russia.
McDonald’s, with over 850 outlets and 62,000 employees in Russia, announced that it will continue to pay its employees for the time being.
The Swedish-furniture retailer IKEA—which has over 15,000 employees—has guaranteed to pay three months’ salary to its workers.
It is uncertain if these companies could continue to support their employees for an extended period.
