Cisco Systems left Russia and destroyed the equipment for the amount of $23.42 million

Cisco Systems left the Russian market, simultaneously destroying several equipment and components.

tens of millions of dollars. This is due to the fact that the network equipment developer does not plan to resume operations in the country.

What is known

Cisco Systems announced the termination of sales onRussian market in March 2022. Three months later, the company refused to renew the licenses. In addition, at the same time, the American manufacturer announced its withdrawal from Russia and Belarus.

As it became known, Cisco Systems decidedphysically destroy spare parts, product demonstrations, equipment, and even furniture. The cost of destroyed stocks is estimated at ₽1.864 billion ($23.42 million). The company also liquidated fixed assets in the amount of ₽1 million ($12,600).

By the end of 2022 the staff of Cisco Systemsdecreased by 12 times and amounted to 5 people. With the rest, the company terminated the contracts in mid-2022, paying them a total of ₽190.6 million ($2.4 million).