After a string of major tech companies and financial institutions, Cisco today announced its withdrawal from Russia and Belarus permanently. In March, Cisco suspended its business activities in Russia. The move came soon after the beginning of Russia’s military operation in Ukraine in February.
Cisco is an American multinational technology conglomerate based in San Jose, California. Tech company focuses on research, development, and sale of hardware, software, and telecom equipment to name a few.
The latest move will affect a hundred workers of Cisco Systems in Russia. There are no official records available regarding the correct number of employees.
The company in a statement on its website said that it will work with its partners, service providers, vendors and other stakeholders regarding financial matters. Matters such as refunding prepaid service and usage of software will also be done as permissible by existing rules and regulations.
The company also promised to support their employees in Russia and Belarus in all possible ways.
Several media reports suggest that employees are given an option to relocate to somewhere else and continue with their jobs. This hasn’t been confirmed by any company representative or statements so far.
According to TAdviser, Cisco Systems Russia had earlier sent their employees on paid leave for 3 months. There were also reports that during the third quarter of 2022 fiscal, the company lost almost $200 million due to the stoppage of services in Russia.
Cisco is the last of many corporations and firms which either stopped or partially halted their operations in Russia since the beginning of the conflict. Tech companies, Microsoft, Amazon, Apple, IBM, intel and many more suspended their services and announced orderly withdrawal from the country as a move of solidarity towards Ukraine and Ukrainians.
Since the beginning of the Russian operation in Ukraine, Cisco has announced several measures to assist Ukraine during trying times. Tech giant announces it will provide WebEx meeting services for free for all Ukrainians. Services and other products used by citizens of Ukraine were given free-of-charge auto-renewal.
Cisco also decided to assist the Ukraine government in safeguarding its digital assets from Russian cyberattacks. It has also set up a Ukraine Humanitarian Assistance Fund for employees to contribute. The company is also presently working with the various non-governmental, non-profit organization to coordinate relief efforts in both monetary and non-monetary terms. Cisco has also donated equipment and products for Ukraine which can be used in the rehabilitation of people who fled from the war zone.
