Reckitt Benckiser begins process to ditch Russian arm
Reckitt Benckiser has started the process to offload its Russian business.
The consumer goods giant has been facing pressure to exit the country following the invasion of Ukraine.
Reckitt has one factory in Russia, which accounts for two per cent of its sales.
The FTSE 100 group revealed that a transfer of the Russian division could be made to a third party or to it’s 1,300 employees in Russia.
It is understood to be the first consumer goods business to take steps to transfer the ownership of its Russian operations.
The company said: “We will work closely with our colleagues in Russia on the details of the various options available to ensure an orderly process.”
“We will do our utmost to ensure those colleagues’ ongoing employment in any new structure and we commit to paying their monthly salaries and benefits until the end of 2022.”