Market Chatter: Femsa Cuts Hundreds of Jobs at Spin FinTech Unit
MT Newswires Live
Mar 20
Fomento Economico Mexicano (FMX), or Femsa, cut hundreds of jobs at its financial technology startup Spin as part of a wider layoff that affected about 1,300 workers, Bloomberg reported Friday, citing a source familiar with the matter.
The report said the job cuts were also implemented at Femsa's retail and Coca-Cola bottling businesses in a bid to cut costs.
Femsa did not immediately respond to MT Newswires' request for a comment.
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