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Nestle targets unemployed youth with Latin America growth plans

First Danone, now Nestle.

The Swiss food company is committing to tackling social problems like youth unemployment by expanding manufacturing in its growth markets.

Nestle announced that it was opening 2,900 new factory jobs in Mexico, Chile, Peru and Colombia.

“We’re not proposing the jobs just to do good for society. Our business is developing and we have real needs,” the company’s America’s head Laurent Freixe says.

Danone recently announced a similar strategy with one of its dairy businesses in West Africa. Nestle’s regional expansion is meant to offset slowing consumer spending in the U.S. Nestle did not disclose the amount it is investing in new regional facilities.

It’s Mexico growth is focusing on pet food and infant nutrition. It’s also planning a factory for Cuba.

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