Mexico's Femsa cuts workers at Spin fintech division [Yahoo! Finance]
Fomento Economico Mexicano S.A.B. de C.V. (FMX)
Last fomento economico mexicano s.a.b. de c.v. earnings: 10/26 05:05 pm
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Source: Yahoo! Finance
its fintech unit Spin, which ?launched a digital wallet app for payments and financial transactions in ?2021. Femsa did not disclose the number of positions that it is eliminating, but a spokesperson said the move is part of a new phase meant to prioritize ?its chain of Oxxo ?convenience stores. "This process has primarily focused on support functions, without impacting operations for our ?customers," the company said in a statement. Bloomberg reported earlier on Friday that hundreds of positions were eliminated at ?Spin as ?part of wider layoffs ?across several divisions of ?the conglomerate. A number of fintech companies offering digital wallet services have sprung up in Mexico in recent years. Femsa, best known for its ubiquitous Oxxo stores, has aimed to merge the area with its brick-and-mortar consumer ?business, which runs a great ?deal on cash, and where shoppers ?can also pay ?bills and transfer money. In its fourth-quarter earnings ?report, Femsa said it was ?delayi
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FMX
Sec Filings
- 3/25/26 - Form 4
- 3/18/26 - Form 3
- 3/18/26 - Form 3
- FMX's page on the SEC website