Microsoft slips as it says it will 'significantly scale down' Russian operations: report
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Microsoft (NASDAQ:MSFT) said on Wednesday that it would make significant impacts on its business in Russia, though it would continue to fulfill its contractual obligations.
"As a result of the changes to the economic outlook and the impact on our business in Russia, we have made the decision to significantly scale down our operations in Russia," the company said in an emailed statement obtained by Bloomberg. 
"We will continue to fulfill our existing contractual obligations with Russian customers while the suspension of new sales remains in effect," Microsoft added.
Microsoft (MSFT) shares slipped fractionally to $272.28 in early trading on Wednesday.
Bloomberg added that more than 400 employees would be impacted by the decision. 
The news comes one day after IBM (IBM) externally confirmed that it would "orderly wind-down" its Russian operations.
A number of major companies, including Apple (AAPL), Dell (DELL) and McDonald's (MCD) have exited Russia in recent weeks as a result of the country's invasion of Ukraine.
On Tuesday, investment firm Morgan Stanley said Microsoft (MSFT) would be able to deal with the recent foreign exchange and PC market headwinds after it "surprised investors" with a cut to its revenue and earnings guidance for the fourth quarter.