Siemens to leave Russia due to Ukraine war, take hefty charge

Summary by Ground News

Siemens will quit the Russian market due to the war in Ukraine, it said on Thursday. Losses and charges at its train-making business led to a downturn in profit during its second quarter. The German company employs around 3,000 people in Russia and had previously decided to not take on new projects.

3 months ago·Moscow, Russian Federation

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Times of India

Siemens to leave Russia due to Ukraine war, take hefty charge

Several companies from brewers Anheuser-Busch InBev and Carlsberg to sportswear maker Adidas to carmaker Renault and several banks have been counting the cost of suspending or withdrawing their operations in Russia.

3 months ago·Mumbai, India

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Reuters

Siemens to leave Russia due to Ukraine war, take hefty charge

Siemens will quit the Russian market due to the war in Ukraine, it said on Thursday, taking a 600 million euro ($630 million) hit to its business during the second quarter, with more costs to come.

3 months ago·United Kingdom

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New York Times

Siemens, the German technology giant, leaves Russia after 170 years.

Siemens said its second-quarter earnings took a $625 million hit because of Western sanctions on Russia.

3 months ago·New York, United States

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CNBC

Siemens to leave Russia due to Ukraine war, take hefty charge

Siemens will quit the Russian market due to the war in Ukraine, it said on Thursday.

3 months ago·United States

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RTÉ

Siemens to leave Russia due to Ukraine war

Siemens will quit the Russian market due to the war in Ukraine, it said today, as losses and charges at its train-making business led to a downturn in profit during its second quarter.

3 months ago·Ireland

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The Hill

Siemens leaving Russia over Ukraine invasion

Automation company Siemens has announced it will shut down operations in Russia in response to Moscow’s invasion of Ukraine. “Siemens will exit the Russian market as a result of the Ukraine w…

3 months ago·Washington, United States

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