07:34 AM EDT, 03/20/2026 (MT Newswires) -- 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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