Procter & Gamble is joining the list of corporations taking action against Russia in the wake of the country's attack on Ukraine.
The Cincinnati-based consumer goods giant says it's stopping all new capital investments in Russia.
"We have discontinued all new capital investments in Russia and are suspending all media, advertising, and promotional activity," says CEO Jon Moeller in a statement. "We are significantly reducing our product portfolio to focus on basic health, hygiene and personal care items needed by the many Russian families who depend on them in their daily lives. As we proceed with the reduced scale of our Russian operations, we will continue to adjust as necessary."
The company previously suspended operations in Ukraine and is helping employees there evacuate. Moeller's statement says in some cases, employees across Europe are housing their colleagues in their own homes.
The maker of Pampers and Crest says a multimillion-dollar package of cash, diapers, feminine care products and other essentials is already reaching refugees in Central and Eastern Europe.
P&G has two plants in Ukraine, with local headquarters in Kyiv. Ukrainian manufactured goods are exported to more than 30 countries in Europe the Middle East and Africa.
