Wal-Mart is Latin America's top employer

                   Wal-Mart is Latin America's top employer

The company employs more than 600,000 people in nine countries in the region -
and plans to expand to more.

PR Newswire

MIAMI, July 9, 2013

MIAMI, July 9, 2013 /PRNewswire/ --Wal-Mart is by far the largest employer in
Latin America finds the latest ranking of the region's employers from Latin
Business Chronicle. The list ranks the region's top employers by number of
employees in 2012. This is the fourth year the market intelligence service has
published the list.

Between Wal-Mart and its affiliate Wal-Mart de Mexico, the company employs
624,025 across Argentina, Brazil, Chile, Mexico, and Central America. This is
as much as the next four companies on the list combined and is expected to
grow as the company plans to conquer new Latin American markets in the coming

While state oil companies such as Brazil's Petrobras, Mexico's Pemex, and
Venezuela's PDVSA lead the region in revenues, they place lower on the list
for number of employees. Petrobras employs a bit over 85,000 people, placing
at number 27, while Pemex employs 151,022 and comes in at number 8. PDVSA
meanwhile ranks at 13 with 111,342 employees.

The largest increase in the top 10 went to Chilean retailer Cencosud, which
saw its number of employees increase by 20 percent last year. The retailer –
which counts brands such as Jumbo hypermarkets, Easy home improvements, and
Paris department stores – has greatly expanded its presence in the Brazilian
and Colombian markets, while doubling down on present investments in
Argentina, Chile, and Peru.

Meanwhile, the largest decrease was registered by Mexican homebuilder
Corporacion Geo, whose employees were down 30.8 percent, and brought the
company from number 67 to 91 in our ranking. This follows a tough year for the
company, with revenues down $1.4 billion in 2012. Another Mexican construction
company, ICA, registered the ranking's second-largest year over year decline,
with a decline of 14.1 percent.

This year's ranking counts six new entries, including Mexican discount chain
Bodega Aurrera , Brazilian conglomerate Cosan, Colombian financial institution
Grupo Bancolombia, telecommunications giant Telefonica.

A few companies such as Sweden's Electrolux, Finland's Nokia, and Peru's
Southern Copper – among others – fell off of our list.

Latin Business Chronicle, a division of the Latin Trade Group, offers key
market intelligence beyond the daily headlines, through extensive rankings,
indexes, and statistics.

About Latin Trade Group

Latin Trade Group is a leading provider of information and business services
to companies operating in Latin America. It publishes award-winning content in
Spanish and English for distribution throughout Latin America, the Caribbean
and the United States through print, online media, and events. Latin Trade
group publishes Latin Trade magazine, Latin Business Chronicle, and is the
organizer of the Latin Trade Symposium and BRAVO Business Awards, the LT CFO
Series for financial executives of multinational corporations and Trade

/Contact: Santiago Gutierrez, Executive Editor, Latin Trade Group,
57-310-240-4415, sgutierrez@latintrade.com/

SOURCE Latin Trade Group
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