Germany's Deutsche Bahn rail operator to cut thousands of jobs

German rail operator Deutsche Bahn plans to cut thousands of jobs, mainly in its administration, after reporting a net loss of €1.2 billion in the first half of 2024, reported dpa.

"We aim to reduce our workforce by about 30,000 full-time jobs over the next five years," chief financial officer Levin Holle said during the presentation of the half-year balance sheet.

The total reduction in workforce corresponds roughly to the "natural fluctuation" over the course of two years, he added, noting that this year alone, 1,500 administrative jobs are set to disappear.

"We must achieve more railway with fewer people in future," Holle said. He said that digitization and automation would help to carry out administrative processes in particular with fewer employees.

The announcement comes at a time when the state-owned rail operator is confronting numerous challenges, including punctuality issues and a drop in passenger numbers.

This year's problems are largely being attributed to industrial action, infrastructure problems and extreme weather events.