This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to Stay
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Tech > As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to Stay
Tech

As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to Stay

Editorial Board Published May 6, 2022
Share
As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to Stay
SHARE

Facing pressure to cut all ties with Russia—Ukrainian President Volodymyr Zelensky made another such exhortation this week—some U.S. companies continue to employ information technology staff in the region, even as others have shuttered their operations.

Contents
Dmitrii Moiseev, chief information security officer at PaxfulNewsletter Sign-upWSJ | CIO JournalTom Lee, policy lead at Mapbox, at a Senate committee hearing in Washington in 2019.More From CIO Journal

“Leaving the Russian market is a must,” Mr. Zelensky said, addressing The Wall Street Journal’s CEO Summit in London via videolink on Tuesday. “The aggressor has to be isolated. Full, complete economic isolation. That will allow Ukraine to fight to defend our rights.”

Since Russia invaded Ukraine in February, hundreds of Western companies have suspended operations or withdrawn entirely from the country, citing concerns about the conflict, worries about the safety of their staff and the complications of doing business there as Western sanctions increase. Last month, the World Bank forecast an 11.2% fall in Russia’s gross domestic product this year.

At the WSJ CEO Council, Ukranian President Volodymyr Zelensky said companies that retain ties to the Russian economy are directly supporting that country’s “war machine” and called on them to exit, citing the business risks of operating there.

Still, some companies are maintaining Russian operations, including Paxful, a Wilmington, Del.-based peer-to-peer bitcoin marketplace, and Mapbox, a digital mapping startup based in San Francisco. Both companies say they wanted to honor their commitments to their Russian employees. Paxful has approximately 70 people in Russia, including full-time employees and contractors, while Mapbox has about a dozen full-time employees there.

“We have a moral obligation. We cannot abandon our team in Russia,” said Dmitrii Moiseev, Paxful’s chief information security officer, who is based in Estonia.

Dmitrii Moiseev, chief information security officer at Paxful

Photo: Foto – Jake Farra

Russia has been an attractive place to employ IT staff due to the high quality of its engineers and the low cost of talent, Mr. Moiseev said. That is part of the reason Paxful chose to site one of its four IT hubs there, the others being in Estonia, the U.S. and the Philippines. But nearly half of Paxful’s entire IT staff is in its Russian hub, which primarily employs engineers and developers, he said.

Paxful is also continuing to hire in the region, which Elena Nedvetskaya, its St. Petersburg-based vice president of people, said has gotten easier since the war began.

When there are rumors a company might be leaving the country, “then employees are more available to discuss,” she said. Ms. Nedvetskaya confirmed Paxful has hired engineers in these circumstances.


Newsletter Sign-up

WSJ | CIO Journal

The Morning Download delivers daily insights and news on business technology from the CIO Journal team.


Paxful officials had no additional comment this week following Mr. Zelensky’s address.

Robert Farish, International Data Corp. vice president and regional managing director for the markets comprising the former Soviet Union, said the IT job market in Russia has shifted in favor of supply. The response rate to IT job ads has gone up since the war began, he said. According to data he’s seen on Russia’s largest online recruitment platform, the average number of applicants applying for each IT posting in March increased to 3 from 1.3 in February, Mr. Farish said.

Tom Lee, head of policy at Mapbox, said that after the war started, the company scrapped plans to establish a more formal presence in Russia. But it has decided to keep on the dozen or so people it employs there.

“We’re standing by our commitment to our team,” he said. “The people who we’ve worked with, who we’ve counted as colleagues for a long time, who we’ve made a commitment to—it wouldn’t be the right thing to sacrifice them for some symbolic end,” he said, adding, “Obviously a top priority here is to comply with the law.”

Tom Lee, policy lead at Mapbox, at a Senate committee hearing in Washington in 2019.

Photo: Al Drago/Bloomberg News

Mr. Lee, who was interviewed last week, declined to comment further following Mr. Zelensky’s statements this week.

Jeff Lawson, chief executive officer of cloud communications company Twilio Inc., said in March that he wrestled with similar questions at the beginning of the war. While Twilio doesn’t employ anyone in Russia, he said he thought deeply about whether to suspend the company’s services in the region.

Ultimately he decided to cut off government customers and stop setting up new customer relationships except for nonprofits and nongovernmental organizations, he said, while leaving services up and running for existing private customers.

The nonprofits and NGOs Twillio supports include some providing services to Ukrainian refugees, the company clarified.

Mr. Lawson acknowledged there were a variety of reasons that companies exited the country, but said he didn’t want to be pressured into following the exodus. In addition, he said, it is “a net positive” for Russians to still be able to access the communication services.

Asked about Mr. Zelensky’s statements, the company said it wasn’t able to provide additional comment by publication time.

Write to Isabelle Bousquette at [email protected]

More From CIO Journal

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:Tech NewsWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Nvidia Settles With SEC Probe Over Cryptomining Disclosure Nvidia Settles With SEC Probe Over Cryptomining Disclosure
Next Article Judge Dismisses Trump Suit Against Twitter Over Censorship Claims Judge Dismisses Trump Suit Against Twitter Over Censorship Claims

Editor's Pick

Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)

Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)

Studying Time: 3 minutes Brooke Hogan isn’t in her dad’s will, a brand new report reveals. Regardless of years of…

By Editorial Board 4 Min Read
6 Greatest Underwear To Stop Chafing For Males in 2025 | Fashion
6 Greatest Underwear To Stop Chafing For Males in 2025 | Fashion

We independently consider all really helpful services. Any services or products put…

15 Min Read
9 Finest Males’s Shorts Manufacturers – Versatile Types For 2025 | Fashion
9 Finest Males’s Shorts Manufacturers – Versatile Types For 2025 | Fashion

We independently consider all advisable services. Any services or products put ahead…

13 Min Read

Oponion

Nvidia Settles With SEC Over Disclosures About Cryptomining

Nvidia Settles With SEC Over Disclosures About Cryptomining

WASHINGTON—Nvidia Corp. has agreed to pay $5.5 million to settle…

May 6, 2022

Braves bring home a World Series title to Atlanta that few saw coming

During three decades of nearly uninterrupted…

November 4, 2021

Credit Suisse Posts Big Loss After Tumultuous Year

Credit Suisse Group AG CS 0.81%…

February 10, 2022

U.S. flu season sees 15-year peak in physician visits – Nationwide

The U.S. winter virus season is…

February 9, 2025

Purple states love Trump—and mooching off the federal funds he needs to chop

West Virginia is one the nation’s…

February 1, 2025

You Might Also Like

The Nintendo Change 2’s Largest Downside Is Already Storage
Tech

The Nintendo Change 2’s Largest Downside Is Already Storage

The Nintendo Change 2 is unbelievable—already a contender for the most important gaming {hardware} launch of 2025. I am nonetheless…

4 Min Read
Clear Your Mattress No Matter How Gross It Will get
Tech

Clear Your Mattress No Matter How Gross It Will get

It’s essential to know easy methods to clear your mattress. Not only for day-to-day cleanliness and hygiene, however let’s say…

4 Min Read
Preserve an Eye on Your Residence With Our Favourite Out of doors Safety Cameras
Tech

Preserve an Eye on Your Residence With Our Favourite Out of doors Safety Cameras

Evaluate These Safety CamerasBest MicroSD Playing cards{Photograph}: AmazonSome safety cameras help native storage, enabling you to file movies on the…

41 Min Read
Hold Tabs on Your Pets and Youngsters With the Finest Indoor Safety Cameras
Tech

Hold Tabs on Your Pets and Youngsters With the Finest Indoor Safety Cameras

Examine Indoor CamerasBest MicroSD Playing cards{Photograph}: AmazonMany safety cameras assist native storage, enabling you to document movies on the digicam…

21 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?