IKEA lets around 10,000 staff go in Russia as it exits the country: Report

IKEA has now let go around 10,000 employees in Russia as it makes its exit from the country, the French news agency AFP quoted the company as saying on Thursday, as the Swedish furniture giant reported record annual sales.
 

IKEA, the world's biggest furniture brand, shut down its Russian stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia.
 

The company had said it would continue to pay staff until the end of August.
 

Jesper Brodin, the CEO of Ingka group, owner of IKEA's stores, told AFP that it had had to lay off around 10,000 of its 12,000 retail employees in Russia.
 

Brodin said Ingka had not yet decided whether to sell the IKEA stores in Russia. Ingka's shopping malls remain open.