Xerox withdraws from Russian market
October 12, 2023
Reuters reports that the local management has acquired Xerox’s Russian operations, promising continued independent functioning.
More than 595 days after Russia invaded Ukraine, Xerox, has exited the Russian market through a management buyout, as reported by Reuters.
Following the Russian invasion of the Ukraine, Xerox initially curtailed its operations within Russia and Xerox has now divested itself from its Russian subsidiary.
Sources confirm that the “local management” has procured the Russian operations, a strategic move that promises a degree of continuity since the subsidiary will persevere to operate independently within the market. The tactical withdrawal from Russia comes amidst a backdrop of fluctuating political and economic scenarios, contributing to the palpable tension in international business circles.
The sale of Xerox’s Russian subsidiary is perceived by some as a symbol of the growing challenges multinational corporations face while conducting business amidst geopolitical tensions and disruptions. It also poses pivotal questions concerning how global corporations navigate ethically and strategically through complex political landscapes, particularly when international relations are stretched thin.
Categories : City News
