13 August 2002

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The country's largest employer will remain:
Carrefour retains its confidence in the Brazilian market

French retail multinational Carrefour has no intentions to leave Brazil. The company is confident that the country will ride through its economic crisis, even with the continued devaluation of the Real.

In today's Le Monde, a Carrefour spokesperson says that the company has been in Brazil for 27 years already, and survived a number of economic upheavals. This is one crisis among the others, the spokesperson says.

Carrefour is Brazil's largest private employer, with 74 hypermarkets, 131 supermarkets and 24 maxidiscount stores. On a global scale, Carrefour is the number two retailer after Wal-Mart, with 383,000 employees at the end of last year.