World News

22009 readers

105 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

Chocolate maker Mondelez hides earnings of its Russian business as sales soar in the country despite pledge to reduce operations (euromaidanpress.com)

submitted 1 month ago by [email protected] to c/[email protected]

1 comments fedilink hide all child comments

Archived link

American company Mondelez International, a producer of chocolate and cookies including Oreo, Milka, Toblerone, Barny, and Tuc, has decided not to disclose the financial statements of its Russian business for 2023. The decision not to disclose data (a move also adopted by Nestle and Mars) demonstrates an attempt by consumer goods giants to avoid further reputational damage associated with their refusal to exit the market of the aggressor country.

Despite promises to reduce operations in Russia and multiple attempts to engage the company’s leadership, Mondelez continues to expand its business.

For example, the company sold 9,800 tons of Milka chocolate in Russia in just the first quarter of 2024 — six times more than projected for the same period.

The company’s Russian subsidiary and its employees also remain entangled with the rest of Mondelez. A Reuters source, familiar with the matter but not authorized to speak to the media, reported that the Russian subsidiary of Mondelez still uses the company’s enterprise resource planning (ERP) system. The source also noted that Russian employees working for the Russian business continue to attend work meetings with employees from other regions.

top 1 comments

sorted by: hot top controversial new old

[–] [email protected] 7 points 1 month ago* (last edited 1 month ago)

This is why it's important to classify Russia as a terrorist organization, so these businesses wouldn't be able to operate there so easily