Low wages, unhealthy products
Mexican Valora buyers have a terrible reputation
The Mexicans want to take over the Swiss kiosk group. Now it’s known: Valora’s buyer is being criticized for controversial business practices in Mexico.
Who was Valora in bed with? Mexican multinational Femsa is looking to expand into Europe by snapping up Swiss kiosk group Valora. But even if the group won, it was controversial. As the “SonntagsZeitung” writes.
FEMSA employs 320,000 people worldwide, operates 3,600 pharmacies in Mexico, Ecuador, Colombia and Chile and 20,500 Oxo branches in Latin America. A major player looking to expand in the US as well.
An hour’s work is not enough for one beer
Femsa has been criticized for the very low wages it pays its Oxxo mini markets’ staff. Equivalent to approximately US$225 a month, these are higher than the legal minimum wage, but still insufficient for workers to survive. In concrete terms: the wages for an hour’s work are not enough to buy even a beer or a kilo of sundae.
Femsa is also criticized because its stores are full of unhealthy products. So she is complicit in the fact that Mexico has risen to second place in the world in the number of overweight people.
Now politicians are reacting
Not all accusations: According to the “SonntagsZeitung”, the group is also under fire due to its enormous water consumption at the expense of the population, which contributed to the need for water to be supplied in certain areas.
There is criticism that big companies like Femsa benefit from very low electricity bills, while households pay significantly more for them. President Andrés Manuel López Obrador (68) is now targeting FEMSA. His goal: Through energy reform, he wants to prevent big companies from continuing to benefit from cheap electricity prices. (pbe)
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