financetom
Economy
financetom
/
Economy
/
More than 200 jobs cut at International Labour Organization as US slashes funding
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
More than 200 jobs cut at International Labour Organization as US slashes funding
May 28, 2025 7:08 AM

GENEVA (Reuters) - The Geneva-based International Labour Organization (ILO) has axed about 225 jobs due to cutbacks in U.S. funding at the United Nations agency, its head said on Wednesday.

The job losses, which affect posts at the ILO's Geneva headquarters and in the field, follow the U.S. administration's decision to reduce voluntary contributions under President Donald Trump, ILO Director-General Gilbert F. Houngbo said.

"One job loss is too many ... You would not imagine the mood that has generated within my staff," he told reporters in Geneva.

The ILO head also raised the possibility of relocating some of the agency's operations out of Geneva, one of the world's most expensive cities, to ease financial pressures, which is also part of broader talks on reform.

Potential locations could be European cities such as Turin, Budapest, or Bonn, or further afield in places including Doha and Pretoria, Houngbo said.

Short-term contractors and employees at some other U.N. agencies like the International Organization for Migration have already been informed of redundancies.

But thousands more job losses could be on the way as international agencies grapple with funding shortages due to the withdrawal of aid by the Trump administration and other donors.

"The U.S. is the top contributor for assessed and voluntary contribution, so our challenge is double," Houngbo said, highlighting also a broader pullback in financial support among member states.

The U.S. accounts for 22% of the ILO's $880 million two-year budget for 2026-2027, expected to be approved at the ILO's International Labour Conference next week.

"Worst case scenario, we may have to consider a revised budget. I don't recall the last time that happened to the ILO," Houngbo said.

He said he is developing a business continuity plan in case of further cuts to financial support, and that the ILO will be implementing a freeze on external recruitment, as well as launching a voluntary redundancy programme.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Rises Early Wednesday Ahead of Housing Starts, New York Fed Services Data, FOMC Minutes
US Dollar Rises Early Wednesday Ahead of Housing Starts, New York Fed Services Data, FOMC Minutes
Feb 19, 2025
07:39 AM EST, 02/19/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday, except for a decline versus the yen, ahead of the release of housing starts data for January and the New York Federal Reserve's services index reading for February, both at 8:30 am ET. Weekly Redbook same-store sales data are due to be...
US Equity Indexes Search for Direction as Geopolitics, Tariffs Sap Risk Sentiment
US Equity Indexes Search for Direction as Geopolitics, Tariffs Sap Risk Sentiment
Feb 19, 2025
01:09 PM EST, 02/19/2025 (MT Newswires) -- US equity indexes were mixed in choppy midday trading Wednesday as investors weighed geopolitical risks and punitive import tariffs amid a steeper-than-forecast slump in housing starts. The Nasdaq Composite and the S&P 500 at their respective 20,031.7 and 6,131.2 levels changed little after trading lower earlier in the session. The Dow Jones Industrial...
Fed concerns rise as tariff threats ratchet higher and wider
Fed concerns rise as tariff threats ratchet higher and wider
Feb 19, 2025
WASHINGTON (Reuters) - U.S. Federal Reserve officials remain uncertain about the impact tariffs might have on inflation, but have begun outlining more serious risks to supply chains, public expectations and ultimately prices as the scope of the Trump administration's plans for import taxes has become clearer. The trade war touched off during President Donald Trump's first term eventually prompted the...
US single-family housing starts tumble in January
US single-family housing starts tumble in January
Feb 19, 2025
WASHINGTON(Reuters) - U.S. single-family homebuilding fell sharply in January amid disruptions from snowstorms and freezing temperatures, with a rebound likely to be limited by higher costs from tariffs on imports and elevated mortgage rates. Single-family housing starts, which account for the bulk of homebuilding, dropped 8.4% to a seasonally adjusted annual rate of 993,000 units last month, the Commerce Department's...
Copyright 2023-2025 - www.financetom.com All Rights Reserved