EPAM lost more than $35 million due to leaving Russia – ,

IT-company EPAM Systems with Belarusian roots has published financial data since the beginning of this year. In the second quarter, the company’s revenue turned out to be a record – almost $ 1.2 billion, but net profit at the same time fell six times – only 18.6 million. For six months, the figures amounted to $ 2.3 billion and $ 108.3 million, respectively.

In March, the company announced that it would no longer serve Russian customers. Because of this decision, EPAM lost more than $35 million, excluding relocation funds. The company’s offices were located in Belarus, Ukraine and Russia. The company allocated $34 million to help Ukrainian employees.

As for the relocation, in six months the cost of travel, apartment rentals and food exceeded $33 million – this is the total amount for Russian and Belarusian specialists.

EPAM was organized in 1993 by Belarusian businessman Arkady Dobkin. Over time, the company has become one of the largest and today does business in 40 countries. Specializes in providing digital transformation services and developing digital products. In 2021, EPAM was included in the main US stock rating S&P 500, as well as in Forbes Global 2000.

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