Femsa
Fomento Económico Mexicano (Femsa) has laid off hundreds of workers at its fintech unit Spin by Oxxo, as part of cuts across divisions. The move aims to adjust expenses under new leadership. Spin has failed to boost Oxxo store traffic despite gaining customers.
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Jose Antonio Fernández Garza-Lagüera, Femsa's new CEO, stressed that the company will balance long-term vision with daily urgency without sacrificing growth. Representing the fifth generation of the founding family, he leads a transformation focused on sustainability and innovation after 135 years of history. The firm reported solid third-quarter performance despite challenges.