GDYN - Grid Dynamics opens 2 new offices in Europe halts operations in Russia

Grid Dynamics (NASDAQ:GDYN) said Monday it opened new offices in Zug, Switzerland, and Yerevan, Armenia. Over 100 engineers are being onboarded in the new office in Yerevan. Armenian delivery capacity is expected to multiply in 2022. GDYN said it would cease remaining operations in the Russian Federation in the coming weeks. The exit plan, which has been in the works since late Feb., includes safe relocation of employees and management of projects. "A majority of employees have already relocated to various engineering centers," the company said.

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Grid Dynamics opens 2 new offices in Europe, halts operations in Russia