More Than 1 Billion Workers Face ‘Drastic’ Hit From Virus
The coronavirus outbreak is having a “deep, far-reaching and unprecedented” impact on employment, with more than 1 billion workers at high risk of a pay cut or losing their job, according to the International Labor Organization.
With factories, schools and shops shuttered around the world, the Geneva-based body says lockdowns are affecting almost 2.7 billion workers. Within that, 1.25 billion are extremely vulnerable, mainly in hotels, food services, manufacturing and retail.
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That’s about 38% of the global workforce. “These workers are facing a drastic and devastating reduction in working hours, wage cuts and layoffs,” the ILO said Tuesday.
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Risky Business The ILO fears 38% of the world’s workers are at risk of layoffs, pay cuts That prediction is the latest in an-ever louder chorus of warnings of the socio-economic damage of measures designed to stop the spread of the virus.
Governments are already spending billions to try to cushion the impact on companies and their employees.
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