IKEA leaves Russia completely. The staff will be laid off and production facilities will be sold

The furniture company IKEA leaves Russia entirely. Employees will be laid off, and all four plants of the company will be sold to another owner.

This was reported by a number of Russian media.

"Over the past few months, the situation with business processes and supply chains around the world has deteriorated sharply. Due to this, we do not see the possibility of resuming sales in the near future. IKEAʼs retail business in Russia remains at a standstill. This decision will lead to optimization [reduction], which will affect many employees," the companyʼs press service said.

Baza reports that IKEAʼs management is currently holding an online meetings with its staff (approximately 20,000 people).

• IKEA suspended its activities in Russia after its invasion of Ukraine, but the companyʼs products were sold on marketplaces. Now the company has decided to abandon this practice as well.