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Digital revolution costs thousands of jobs in Mexican banks

Friday, October 19, 2018


Citibanamex, Mexico's number three bank in terms of assets, is to dismiss 2,000 employees as part of a transition to the use of digital practices.

The first Mexican bank to announce similar staff cuts was Banorte. Next came BBVA Bancomer, which announced 1,500 redundancies.

A Citibanamex spokesman said that most of the employees who are to be dismissed have already been notified. He added that the cuts will affect personnel who directly deal with clients but also members of mid-level management.