“Deutsche ban” has to lay off 30,000 workers

26.07.2024. / 8:03

BERLIN – The company that manages the German railways “Deutsche Ban” plans to lay off 30,000 workers or about nine percent of the workforce due to heavy losses.

The decision came after huge investments in repairing the railway network, strikes and bad weather led to a net loss of more than one billion euros.

The company’s chief financial officer, Levin Hole, said that layoffs and job cuts will take place over the next five years and will hit administrative jobs the most. However, this year 1,500 workers “have to go”.

The company “Deutsche Ban” reported net losses of 1.2 billion euros in the first half of the year.

Srna