Global Fund to Fight AIDS to slash over 100 jobs

The Global Fund to Fight Aids, Tuberculosis and Malaria said Wednesday it is cutting over 100 jobs, in an overhaul after a rough financial period and a scandal in which millions of dollars went missing.

"The reorganisation process is nearing completion and we estimate that between 110 and 120 people will leave the Global Fund," said spokeswoman Veronique Taveau.

"Some of them decided to leave, while others were unsuccessful in finding new positions within the organisation."

Taveau said final details on the restructuring would be announced at the fund's next board meeting on May 10 and 11.

The Geneva-based fund has risen to become a major player in worldwide public health since its founding in 2002.

But it has hit difficult times since the , which curtailed donor spending, and the departure of its executive director earlier this year after auditors found that $34 million (26 million euros) had gone missing or been siphoned off in four .

Former executive director Michel Kazatchkine denies any wrongdoing, but announced on January 24 that he was stepping down amid a management reshuffle. He has been replaced by Gabriel Jaramillo in the post of general manager.

The is the main source of funding worldwide for HIV/AIDS, and malaria initiatives, with grants totaling $22.6 billion for more than 1,000 programmes in 150 countries.

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