Summary
The Zoological Society of London (ZSL) is starting a voluntary redundancy program to cut costs by £2 million a year. This decision comes after financial setbacks, including the loss of USAID funding, cuts in UK foreign aid spending, and economic challenges. ZSL, which manages London Zoo and Whipsnade Zoo, is trying to avoid mandatory job cuts but can't rule them out in the future.
Key Facts
- The Zoological Society of London needs to reduce costs by £2 million a year.
- ZSL has been financially affected by the loss of USAID funding and a 40% cut in UK foreign aid.
- Economic challenges, including the cost-of-living crisis, also impact the charity.
- ZSL runs London Zoo and Whipsnade Zoo and participates in over 100 global scientific and conservation projects.
- ZSL's income has decreased, partly due to lower tourism and consumer spending.
- The UK government is reducing its aid budget to focus on defense spending.
- There has been a rise in employer National Insurance contributions, affecting ZSL's finances.
- ZSL offers a voluntary redundancy scheme to its employees amid these challenges.
