Ukraine War: KPMG sacks 4,500 workers in Russia, Belarus
Consultancy giant KPMG has announced that its Russia and Belarus firms will leave the KPMG network in light of President Vladimir’s invasion of Ukraine.
On Sunday, KPMG said ending its association with its 4,500 workers in Russia and Belarus was “incredibly difficult.”
“We believe we have a responsibility, along with other global businesses, to respond to the Russian government’s ongoing military attack on Ukraine. As a result, our Russia and Belarus firms will leave the KPMG network,” KPMG tweeted on Sunday.
The consultancy firm said it was a “values-driven organisation that believes in doing the right thing,” adding that it will support employees in the countries.
Being the second of the Big Four to leave Russia, Financial Times observed that KPMG’s exit would likely increase pressure on firms like Deloitte and Ernst & Young to follow suit.
The new developments followed the exit of the global consultancy firm Accenture from Russia.
On Friday, it announced it had shut down its 2,300-person Russian business.
Other firms like the Boston Consulting Group and Bain Company have also stopped work for its Russian clientele, opposing Mr Putin’s war.
The invasion, which began on February 24, has seen the wide-reaching imposition of sanctions by global powers such as the United Kingdom, the European Union, and the United States.
These sanctions have led firms globally to reconsider their business relationship with Russia.
In light of the crisis, the sector-wide exodus from Russia has seen shipping line Maersk, car company Toyota and social media companies like Google and Meta discontinue their services.
More from Peoples Gazette
Economy
Buhari regime will continue to borrow without subsidy removal: Femi Adesina
“You know how much could have been saved if the subsidy was removed and how it could have been diverted to other areas and spheres of national life.
States
Residents bemoan as armed robbers take over Benin; kill UNIBEN student
A recent robbery in one of the areas led to the death of a 600 level Pharmacy student of the University of Benin.
Economy
‘Petrol selling for N1,000 per litre at black market’
Another commuter, Adeyinka Akinwumi, said she paid between N300 and N500 from Masaka to Wuse, which usually cost N150.
World
China backs Russia for invading Ukraine, rejects ‘cold war revival’
“No matter how treacherous the international storm is, China and Russia will maintain their strategic determination,” insisted China’s foreign minister.
Politics
Court orders Buhari, national assembly not to tamper with Electoral Act 2022
The judge, Inyang Ekwo…agreed that the act had become a valid law and could not be tampered with without following due process.
Education
We paid N421 million to feed Bauchi schoolchildren: Gov. Bala Mohammed
The commissioner said the government introduced food monitors in boarding secondary schools to ensure quality food items to the schools.
Anti-Corruption
Alleged drug dealer Abba Kyari pleads not guilty
He made the plea before the court’s judge Emeka Nwite. The disgraced cop was arraigned alongside six others on allegations bordering on drug trafficking.
