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IKEA to sell all four of its factories in Russia

The company has already begun searching for new owners for enterprises in the Leningrad, Kirov and Novgorod regions. The IKEA press service also reports that the company has decided to “reduce the scale of business” in Russia. Employees are waiting for “optimization”.

“Over the past few months, the situation with business processes and supply chains around the world has deteriorated greatly. In view of this, we do not see the possibility of resuming sales in Russia in the foreseeable future. As a result, the Inter IKEA Group and the Ingka Group have decided to scale back their business in Russia. This is a difficult decision, but we believe it is necessary. IKEA’s retail business in Russia remains on pause. This decision will entail optimization, which will also affect many employees.”

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