Global Fund will cut more than 100 jobs

The Global Fund to Fight AIDS, Tuberculosis and Malaria announced on Wednesday that it is slashing more than 100 jobs after a scandal and a difficult financial period in which millions of dollars disappeared.

Veronique Taveau, a spokeswoman for the Global Fund, said that the final details on the restructuring would be announced when the fund has its next board meeting on May 10 and May 11. While the fund has become a major force in public health worldwide since it was founded in 2002, the global financial crisis and an audit revealing a $34 million shortfall have reduced donor spending, AFP reports.

"The reorganization process is nearing completion and we estimate that between 110 and 120 people will leave the Global Fund," Taveau said, according to AFP. "Some of them decided to leave, while others were unsuccessful in finding new positions within the organization."

Michael Kazatchkine, the fund's executive director, stepped down in January after auditors determined that $34 million was siphoned off or had gone missing in four African countries. Kazatchkine denied any wrongdoing and was replaced by Gabriel Jaramillo, according to AFP.

The Global Fund is the top source of funding worldwide for malaria, TB and HIV/AIDS initiatives, granting $22.6 billion for more than 1,000 programs in 150 countries.