Reuters
IKEA plans to sell factories, reduce jobs in latest Russia cuts
IKEA said on Wednesday it would sell factories, close offices and reduce its nearly 15,000-strong workforce in Russia, the latest move by the world’s biggest furniture brand to cut its operations there following Moscow’s invasion of Ukraine. Ingka, also one of the world’s biggest shopping centre owners, is keeping its 14 malls in Russia, branded “MEGA”, open though. The Swedish furniture retailer is one of more than 1,000 Western companies to scale back operations in Russia since Moscow sent troops into Ukraine on Feb. 24.
