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P&G: $50 Million for Relocating Staff in Panama

Since 2007 the company has relocated 400 of its executives and their families in Panama.

Friday, June 11, 2010

For this, the company has invested $50 million. These logistics costs might include housing and children tuition, plus other benefits.

“Additionally, these 400 executives from 17 nationalities, most of them Venezuelans, are spending $15 million per year in Panama”, said Antionio Boadas, P&G foreign relations manager for Latin America. “There is so much demand for good schools for their children, that the company has landed an agreement with the International School of Panama under which the educational center will invest to enlarge its capacity in 120 students”.

Source: Prensa.com