PricewaterhouseCoopers is to cut its Russian firm adrift from its global network in arguably the most significant exit so far by a multinational company since the Russia's decision to invade Ukraine
PricewatwerhouseCoopers is to cut its Russian firm adrift from its global network in arguably the most significant exit so far by a multinational company since the Putin government's decision to invade Ukraine.
Sky News has learnt that PwC, one of the world's big four accountancy firms, will announce publicly on Monday that it is cutting its Russian business adrift, a move that will affect 3,700 partners and staff in the country. The decision will pile pressure on its main rivals - Deloitte, EY and KPMG - to follow suit, but is expected to trigger a fiendishly complex process that could take months or even years to complete.
PwC's exit from Russia will make it the latest in a string of major companies cutting ties with the country in the aftermath of the invasion of Ukraine.The exodus has spanned industries from retail and consumer goods - including companies such as Marks & Spencer and Next - to media and sport, with ITV announcing that it would stop selling its content there and the Russian Grand Prix being removed from the Formula One calendar.
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