Firms Worldwide Rush to Safeguard Ukraine Workers
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Companies, including SAP, ArcelorMittal, and Carlsberg, shut their operations in Ukraine owing to the ongoing conflict with Russia
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Companies with significant exposure to Russia are assessing the impact of sanctions on Russia while waiting for more transparency
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Active jobs in Ukraine dropped 5% in February over that in January 2022, while the number of jobs posted declined 70%
Firms Worldwide Rush to Safeguard Ukraine Workers
The Ukraine-Russia conflict is distorting the world order. There is an immediate need for negotiation between these two countries. If these countries continue their battle for a long duration, it spells doom for their economies. War is expensive for every country and affects the lives of its citizens. The people of Ukraine are going through a stressful phase with Russian forces advancing through their streets, although there is constant support from people and countries worldwide. Almost all NATO countries support Ukraine (Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg, the Netherlands, Norway, Portugal, the UK, and the US). While governments are imposing sanctions on Russia, tech companies are protecting Ukrainian workers as a move to lend a helping hand to the people of Ukraine.
Companies’ Support Ukrainians
In a recent interaction with TechCrunch, Uber said: “Our focus continues to be doing whatever we can to protect the safety of Uber riders, drivers, and employees. We have a cross-functional team monitoring the situation very closely and will restore service as soon as it is safe to do so.” Similarly, companies such as Just Answer and Lyft are also helping Ukrainian workers in financing and relocation and are ensuring job safety. Just Answer is hiring Ukrainians and will be operating in Ukraine, according to the company CEO.
Recently, Apple CEO Tim Cook tweeted: “I am deeply concerned with the situation in Ukraine. We’re doing all we can for our teams there and will be supporting local humanitarian efforts. I am thinking of the people who are right now in harm’s way and joining all those calling for peace.”
Many companies are relocating or closing their offices in Ukraine. Danish beer giant Carlsberg suspended production at all three breweries in the country. Software provider SAP shut down its office in Kyiv and has taken measures to safeguard and support its employees. ArcelorMittal, which employs more than 20,000 people in its Kryvyi Rih steel plant, is closing production at its underground mines.
According to GlobalData Jobs Analytics, the total number of job postings at the end of January 2022 was 252 compared to 75 as of February 21, 2022. Active jobs also declined from 2,200 in January to 2,082 in February. Companies are also keeping a watch on the sanctions imposed by Western countries on Russia as it will affect the operations of many companies in Russia. The US and Canada recently halted approval of the Nord Stream 2 pipeline to put pressure on Russia. British Petroleum, Nestle, Coca-Cola HBC, and Renault are some companies with significant operations in Russia. The Russia-Ukraine war will affect the economies and the people in both countries.
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