Henkel's exit from Belarus market to generate 1bn Euros of losses
Henkel's exit from the market of Belarus will result in 1bn Euros of losses and affect 2,500 employees – as reported by BelTA with reference to TASS
In its statement, Henkel recalled that, in mid-April, the company stopped its business activities in Russia. “In addition, we decided to stop our activities in Belarus," Henkel CEO Carsten Knobel informed. As stated, this step would negatively affect the overall annual sales volume: the company will lose about 1bn Euros. In addition, the termination of its activities on the territory of Belarus will affect 2,500 Henkel employees.
At the same time, Mr. Knobel stressed that ‘despite Henkel's overall very good sales performance in the first quarter, the overall economic environment has continued to deteriorate dramatically since the beginning of the year’.
