Microsoft to curtail its Russian operations in a move that will affect about 400 employees: Bloomberg

Microsoft Corp. is curtailing its Russian operations after Russia’s invasion of neighboring Ukraine, Bloomberg News reported, citing an emailed statement from the company. “As a result of the changes to the economic outlook and the impact on our business in Russia, we have made the decision to significantly scale down our operations in Russia,” said the statement. “We will continue to fulfill our existing contractual obligations with Russian customers while the suspension of new sales remains in effect.” The move will affect more than 400 employees. It comes after Microsoft in March said it was suspending sales of new products and services in Russia but would continue to support existing customers and maintain offices. Almost 1,000 companies have opted to pull out of Russia over its war on Ukraine, according to Yale Professor Jeffrey Sonnenfeld and his research team at the Yale School of Management. Microsoft hares were slightly lower premarket but are down 18% in the year to date, while the S&P 500 has fallen 12.7%.

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