Not a day goes by, a western firm announces its departure from Russian territories. Foreign companies following to wind down their business in Russia over its invasion of Ukraine as well as a new law being passed in the coming weeks allowing Moscow to capture assets and press criminal penalties. That has resulted in many western businesses speeding up their departure.
Cisco’s decision to exit from Russia and Belarus
Cisco Systems is engaged in designing and selling a range of technologies and recently announced its plan to depart from Russia and Belarus mostly because of its Ukraine invasion. In March, The company informed that it was suspending its sales and operations in Russia due to the ongoing war in Ukraine. Now, the company plans to leave Russia entirely. A Cisco spokesperson said in a statement ;
« We have now made the decision to begin an orderly wind-down of our business in Russia and Belarus »
Earlier this month, Cisco’s rival International Business Machines Corp started cutting its business in Russia and Microsoft announced it was making significant cuts to its Russian business. Intel, AMD, Nvidia, and contract chipmaker TSMC have all stopped their business operations in Russia. Google, Microsoft, and Oracle have closed work in the country, along with Apple, Netflix, Sabre, Ericsson, SAP, Infosys, Atos, PayPal, Mastercard, and Visa.
On the other hand, Cisco has offered its local employees’ relocation options. However, the company did not reveal which countries the employees were offered as alternative locations.