Reckitt says begins process ‘aimed at’ transferring Russian business -Breaking
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© Reuters. FILE PHOTO Lysol is a Reckitt Benckiser brand and can be seen in Manhattan, New York City on March 24, 2022. REUTERS/Andrew Kelly2/2
(Reuters) – Reckitt Benckiser Group announced Wednesday that it has begun a process to transfer ownership of Russia’s business. This is the first time a major maker of personal goods did so since the invasion of Ukraine.
Durex condoms and Strepsils lozenges for throats and Lysol cleaning products maker said that it may have to transfer its decisions to third parties or local employees.
Reckitt released a statement saying that he would work closely with Russian counterparts to determine the best options for Russia.
It added that “We will do everything possible to ensure the continued employment of those colleagues in any new structure, and we promise to pay their monthly salaries until 2022.”
Russia has approximately 1,300 employees of the company. The Russian-based company has been providing basic healthcare and hygiene products to Russia for many years.
Reckitt previously stated that Russia was losing money and had stopped advertising and promotion in Russia. It also said that Russia had frozen capital investments.
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