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Wednesday, June 17, 2015

Nestle slashes 15% of African workforce

Nestle, the Swiss-based food and beverage giant is cutting it's African footprint.  It overestimated the continent's potential.

"We thought this would be the next Asia, but we have realized the middle class here in the region is extremely small and it is not really growing," Nestle's Cornel Krummenacher told the FT in an interview.

Things that make you go hmmm.  Africa is rich in natural resources.

 Hmmm Hmmm.

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