Updated | March 1, 2022 | 6:26pm
WeWork CEO Sandeep Mathrani has confirmed that the coworking provider will continue to operate in Russia, citing how well its four locations in Moscow perform.
Many companies have taken steps to cut ties with their business in the country of Russia in opposition to its invasion of Ukraine.
Mathrani, however, added that the company’s presence generates around $10 million in topline revenue.
“I don’t think so. Like I said, our assets do incredibly well,” said Mathrani when asked whether the company will retreat from the area. “We hope for a resolution of the conflict and hopefully we can continue to do business in Moscow.”
However, a spokesperson for WeWork said the company will “closely monitor the situation,” and that “the safety and wellbeing of our colleagues that operate our four buildings in Russia and are prepared to take action as necessary to ensure an orderly shut down of our business.”
This goes against the grain of many Western countries and global companies that have expressed disapproval with Russia’s actions, with many already choosing to distance themselves through economic sanctions or severing ties completely.
For example, British energy firm BP said it would walk away from its 20% stake in Russian oil company Rosneft. Additionally, US airline company Delta said it would pause its code-sharing agreement with Russian airline Aeroflot.
Although the operator has somewhat improved its reputation in the eyes of the public over the last few years, there is a growing importance for businesses to make meaningful, socially aware business choices.