ILO to cut jobs

The International Labour Organisation (ILO) said up to 2.4 million workers in Latin America could lose their jobs this year, because of the global economic crisis.



It has warned that the job losses could raise the region\'s unemployment rate for the first time in six years.



The ILO said in a report that many companies may reduce their operational and labour costs this year, in response to the financial crisis and credit restrictions.



The document added that unemployment is expected to increase in the region for the first time since 2003, to an annual average up to 8.3 percent.



The ILO said the figure could be even higher, if growth forecasts are adjusted downwards.