comScore
Active Stocks
Fri Sep 29 2023 15:59:14
  1. Tata Steel share price
  2. 129 1.78%
  1. NTPC share price
  2. 245.65 3.3%
  1. Power Grid Corporation Of India share price
  2. 199.85 -0.45%
  1. State Bank Of India share price
  2. 598.7 1.48%
  1. Wipro share price
  2. 406.25 0.11%
Business News/ News / World/  ICRC to lay off 1,500 jobs amid the fear of humanitarian aid fall
Back

ICRC to lay off 1,500 jobs amid the fear of humanitarian aid fall

ICRC to cut some 1,500 jobs as humanitarian budgets seen sliding

The International Committee of the Red Cross said it would cut some 1,5000 jobs and roll back operations in some locations as budgets for humanitarian aid are expected to decrease.Premium
The International Committee of the Red Cross said it would cut some 1,5000 jobs and roll back operations in some locations as budgets for humanitarian aid are expected to decrease.

Due to anticipated reductions in resources for humanitarian aid, the International Committee of the Red Cross announced it will lay off some 1,5000 employees and scale back activities in some areas. The Geneva-based organisation reported that its governing board last week authorised cost savings totaling 430 million CHF (approximately $475.30 million) spread out across 2023 and early 2024.

"Approximately 1,500 jobs worldwide will have to be cut over the coming 12 months," ICRC said in a statement on Tuesday.

β€œAt least 20 of currently 350 locations around the world will close β€” where, for example, the area can be covered by another ICRC office, or where other humanitarian or development partners can take over. We will also be scaling back and closing some of our programmes," said ICRC.

According to ICRC, multiple end-of-year promises from donors did not materialise "at the level we had anticipated" and that costs in the final quarter of 2022 were more than anticipated.

The International Committee of the Red Cross (ICRC), which was founded in 1863, works to aid those afflicted by war and armed conflict while advancing legislation that safeguards wartime victims. The organisation has about 20,000 employees spread across more than 100 nations and is headquartered in Geneva, Switzerland. Governments and National Red Cross and Red Crescent Societies provide the majority of the ICRC's funding through voluntary contributions.

"Exciting news! Mint is now on WhatsApp Channels πŸš€ Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 05 Apr 2023, 02:56 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App