Impact of Russia Ukraine War
Following Russia’s invasion of Ukraine, many of the biggest consulting firms in the world broke connections with Moscow in order to protect their personnel and other people under attack.
Global software consultant Accenture has fired all of its employees in Russia in response to what it sees as an unlawful and terrible attack on the people of Ukraine and their freedom, although it will continue to support its roughly 2,300 colleagues there.
Despite not conducting business there, Accenture will nevertheless provide telemedicine and resettlement services to its Ukrainian staff members and their families.
McKinsey & Company
McKinsey claims that it has halted serving the government and will terminate its present relationships with Russian state-owned businesses. It will however keep a Moscow office where its 400+ local workers can work.
Boston Consulting Group
BCG has roughly 400 employees in Russia as well, and it will halt all new business with Russian clients while upholding its present contractual commitments and maintaining its Moscow headquarters. Local employees will be given the option to transfer outside of Russia or will be able to work on internal projects for non-Russian clients.
Bain & Company
Bain & Company’s global managing partner Manny Maceda wrote on LinkedIn that the organization had already decided in 2020 not to take on any more work from the Russian government at any level, be it central, state, or departmental, as well as agreeing not to advise specific industries in the country like the military and intelligence sectors.
Oliver Wyman’s CEO, Nick Studer, has also commented on behalf of the global management consulting firm, assuring its staff that Oliver Wyman will not collaborate with any state-owned companies owned by the Russian government anywhere in the world.
Taiwanese-born Alex Liu, worldwide managing partner at Kearney, acknowledged “the range of passion and pain associated to concerns of sovereignty” and stated that the company supports the international sanctions imposed against Russia and will not cooperate with any Russian government institutions.
By stopping all work with Russian clients as of March 1, Roland Berger, a management consulting firm with German roots that in 2019 had to deal with revelations of its eponymous founder’s father’s Nazi collaborations, asserts that Europe is going through one of its darkest periods since the end of World War II and that the Russian president’s war cannot continue without having an impact on organizations.
Around 4,000 employees work for DXC Technology, which has vowed to utterly withdraw from the Russian market in response to the Russian government’s “unwarranted antagonism.”
The organization was assessing all of its ongoing connections with unapproved organizations, an FTI Consulting spokeswoman told the Guardian, and will end engagements as needed.
The Big Four professional services firm PwC intends to dissolve its Russian affiliate, but out of consideration for its 3,700 local staff, it will work with PwC Russia to carry out an orderly transition of the business.
The company’s global network will also no longer include KPMG Belarus and KPMG Russia. KPMG claimed the choice was incredibly hard but that it thought it had a moral obligation to make it, despite the fact that it employs more than 4,500 people in total across the two nations.
With 500 partners and workers and $22 million of the company’s $6.6 billion in global revenue in 2017, FBK, a member of a mid-tier global accounting and consulting network called Grant Thornton, was already kicked out by the start of the next month.
Ernst & Young
EY has decided to formally sever connections with its office in Russia in response to Russia’s invasion of Ukraine. Additionally, EY will no longer work with Russian government clients, state-owned organizations, or any sanctioned entities or people elsewhere in the world.
As of the 7th of March, Deloitte was still examining its activities and presence in Russia after ceasing client service and commercial operations in Ukraine to protect employee safety.
The group expressed its hope for a swift return to peace while announcing that it does not offer services to any departments of the Russian federal government.