20 Apr 2020 13:48

Major U.S. companies intend to stay in Russia - AmCham

MOSCOW. April 20 (Interfax) - Nearly half of the U.S. companies operating in Russia will have to cut the number of their employees because of the restrictions imposed to slow the coronavirus infection epidemic, but major companies are not thinking of leaving this market, President of the American Chamber of Commerce in Russia (AmCham) Alexis Rodzianko said.

"We have regularly talked with the companies and conducted polls. Virtually all companies are suffering losses in the current situation. Slightly more than a half of the companies that we have surveyed have said that they are not planning to lay off their employees and will try to retain their staffs. However, nearly half said they would inevitably have to resort to staff cuts," Rodzianko told Interfax.

None of the major U.S. companies polled by AmCham said they are planning to leave the Russian market, he said.

"As for small businesses that might not survive at all, certainly, they'll leave everywhere, but major American companies that operate here and a lot of which have production lines here are not planning to leave, even though they are suffering damage and have to revise their plans down because of everything that's happening," Rodzianko said.