Citing the horrific attacks on Ukraine, Accenture has discontinued doing business in Russia, effective immediately. Chief competitors Boston Consulting Group and McKinsey, meanwhile, both announced that they will stop working with Russian entities.
Accenture announced today that it will discontinue doing business in Russia as a result of the country's continued attacks on the Ukraine. The multinational consulting giant had 2,300 employees in Russia as well as a global innovation lab called 'Future Camp,' which opened in Moscow in 2018.
Competitors McKinsey and Boston Consulting Group both announced today that they too will no longer work with Russian businesses, according to the Financial Times. However, neither committed to leaving the country nor letting Russian employees go.
Accenture said in a statement that it took action because it “stands with the people of Ukraine, governments, companies and individuals around the world calling for the immediate end to the unlawful and horrific attack on the people of Ukraine and their freedom.”
Accenture, which does not have an office in the Ukraine, has pledged to help its Ukrainian colleagues around the globe and their families. It will give $5m to relief organizations working to help Ukraine citizens as well as those seeking refuge in neighboring countries and beyond. Additionally, it is matching 100% of Accenture employee donations.
“The images and voices from Ukraine are tragic. Accenture is committed to supporting humanitarian aid to address the crisis and we stand with all in the global community who are calling for peace,” wrote Accenture’s chair and chief exec Julie Sweet on LinkedIn on Friday, February 29.
The company has vowed to provide support for its 2,300 former employees and thanked them for their service. The now-shuttered Russian 'Future Camp' had been described by the company as “a unique venue promoting digital innovation, design thinking and innovative concepts that can deliver tangible business results through rapid prototyping and liquid development.”
Accenture is the first of the major companies within the marketing and advertising field to take such a definitive stance. It joins the likes of tech giants Apple, Facebook, Google, Oracle and others who have either ceased product sales or cut services within Russia.