Nestle SA (VTX:NESN), the Swiss-based food company, is planning to invest in factories in Latin America that would create 2,900 jobs in the region. The move is part of the company’s aim to take on social issues and bolster its position in one of its strongest markets, according to the company’s regional head.
The coffee and chocolate maker is working with officials in Chile, Mexico, Colombia and Peru. The four nations area all members of the Pacific Alliance trade group . Nestle SA (VTX:NESN) seeks to create thousands of jobs for young people and teach them job-hunting skills. Our view on corporate responsibility is that to make it sustainable we have to do it in a way that is embedded in our business model. Integrating young people can help us shape our company at a time of digital revolution,” said Laurent Freixe, America’s head, in an interview with Reuters. “We’re not proposing the jobs just to do good for society. Our business is developing and we have real needs.”
Nestle carried out a similar project in Europe. The project was undertaken in countries that are just starting to recover from a youth unemployment crisis.
Nestle SA (VTX:NESN) to Add to 60,000 Workforce
The company already employs 60,000 people in a variety of roles.
Freixe said that the recession in Brazil and a slowdown in commodities had an impact. However, there is growth potential in pet care and the coffee industry as the country’s middle class continues to expand.
The company is investing in many places to expand growth. In Mexico, Freixe said, the company is finalizing investments in infant nutrition and pet food. In Chile and Cuba, new factories will be built.
He added that sales in the U.S. continues to wane and is not showing signs of recovery. Nestle SA (VTX:NESN), like many others in the food industry, is working to reduce salt, sugar and saturated fat in its products to meet the demands for healthier foods.