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Otis Worldwide Corp. rethinking its business in Russia

Elevator manufacturer Otis Worldwide Corp. is reevaluating its future in Russia amid the ongoing war in Ukraine. Otis Chief Executive Judith Marks spoke during an earnings conference call with industry analysts Monday. She says the company is disheartened by the escalation of the crisis and is evaluating the best ownership structure for the business, whether that's with Otis or somewhere else. The company has said its operations in Russia represented approximately 2% of its 2021 revenue, based mostly on new equipment sales. In March, Otis announced it would not take new elevator and escalator orders in Russia and not make new investments in the country

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SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

Together, we can defend it. It’s time to protect what matters.

Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.

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