Swedish furniture maker IKEA will preserve jobs in its factories in Russia throughout the next year, while selling its business in the country to a new owner, Russia's forestry trade union told Sputnik.
ST. PETERSBURG (Pakistan Point News / Sputnik - 16th December, 2022) Swedish furniture maker IKEA will preserve jobs in its factories in Russia throughout the next year, while selling its business in the country to a new owner, Russia's forestry trade union told Sputnik.
"This decision was announced today at the joint meetings of workers of IKEA Industry Tikhvin (in the Russian region of Leningrad), IKEA Industry Vyatka (in the Kirov Region) and in one of the plants in (the city of) Veliky Novgorod. The deal with a new owner will provide for employment of workers for next 12 months," Andrey Illarionov, the union's organizer, said.
In early November, IKEA started removing its logo from the products made at its factories in Russia. The Swedish furniture giant plans to complete the sale of its four factories in Russia by the start of next year.
IKEA has been winding up its operations in Russia since March 2022, amid Moscow's military operation in Ukraine, and has reduced staff at its manufacturing facilities in Russia.
The company also said that it expects to sell its assets in Russia by 2023.
