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Cushman & Wakefield (NYSE:CWK) has agreed to transfer its operations in Russia to a local operator. This decision aims to support Russian employees while ensuring service continuity for clients. The company stated that this transaction is not material to its financial performance or future operations. Cushman & Wakefield also expressed gratitude to its employees affected by the current circumstances and confirmed ongoing support for Ukrainian colleagues and humanitarian responses in neighboring countries.
Positive
Transfer of operations in Russia allows local support for employees.
Ensures continuity of services to clients in Russia.
Negative
None.
The firm to exit from all service delivery within Russia
CHICAGO--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE:CWK) today announced that the firm has reached a definitive agreement to transfer its business in Russia to a local operator.
This transition of the business will allow the new owners to support Russian employees, while maintaining continuity of essential services to clients.
This transaction is not material to the firm’s financial statements or future operations.
Cushman & Wakefield would like to publicly thank its colleagues for their hard work and dedication to the firm’s clients, while recognizing the current extraordinary circumstances and uncertainty those colleagues are experiencing.
Cushman & Wakefield also continues to support its Ukrainian colleagues by mobilizing resources, including its Global Employee Assistance Fund. In addition, the firm is also supporting its many employees in neighbouring countries who are responding to the humanitarian crisis through a variety of means.
Cushman & Wakefield stands firmly with the global community in the hope for peace.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
What did Cushman & Wakefield announce regarding its operations in Russia?
Cushman & Wakefield announced a definitive agreement to transfer its operations in Russia to a local operator.
Is the transaction regarding Russia material to Cushman & Wakefield's financials?
No, the transaction is stated to be not material to the firm’s financial statements or future operations.
How does Cushman & Wakefield plan to support its employees in Russia?
The transition allows the new owners to support Russian employees while maintaining service continuity.
What support is Cushman & Wakefield providing to Ukrainian colleagues?
The firm is mobilizing resources, including its Global Employee Assistance Fund, to support Ukrainian colleagues and those in neighboring countries responding to the humanitarian crisis.
