MEXICO CITY, March 20 (Reuters) - Mexican retailer and

bottler Femsa said on Friday it is laying off workers in 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

delaying its application for a banking license until it saw more

momentum in its consumer credit services. It added it will no

longer seek third-party partners for the Premia loyalty platform

available through Spin.