Friday 29 Mar 2024
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KUALA LUMPUR (Aug 16): Swedish retailers Inter IKEA Group and Ingka Group have each decided to enter a new phase to further scale down the IKEA business in Russia and Belarus.

In a statement on its website on Monday (Aug 15), the group said the IKEA Retail business will remain stopped, and the workforce will be reduced, meaning that many co-workers will be affected.

It said in order to support the scaling down process, Ingka Group plans to sell out its home furnishing inventory in Russia.

The Inter IKEA-owned industry business in Russia will reduce its workforce and start the process of finding new ownership for all four factories.

Import and export of IKEA products to and from Russia and Belarus will remain stopped.

The two Inter IKEA-owned purchase and logistics offices in Moscow and Minsk will close permanently.

This process is currently underway and all actions and decisions taken will be guided by IKEA values, to support its employees, it said.

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