BERLIN, Jan 27 (Reuters) - The head of Germany's struggling state railway Deutsche Bahn aims to save up to 500 million euros ($593 million)annually through changes to the top management as part of a
Deutsche Bahn CEO Targets 500 Million Euros in Annual Savings
Management Restructuring at Deutsche Bahn
BERLIN, Jan 27 (Reuters) - The head of Germany's struggling state railway Deutsche Bahn aims to save up to 500 million euros ($593 million)annually through changes to the top management as part of a restructuring programme, she told journalists on Monday night.
Goals of the Restructuring Plan
Speaking at a press event in Berlin, Deutsche Bahn CEO Evelyn Palla did not specify when that target would be achieved.
Impact on Management Jobs
There will be a significant streamlining and greater responsibility for the operational units under the restructuring plan that foresees a second wave of changes from this summer.
Focus on Punctuality and Operating Results
Palla, who took office in October, has already reduced the size of the management boards at Deutsche Bahn's holding company and its subsidiaries. In December, she said that at least 30% of the jobs at the holding company, out of around 3,500 currently, would be cut.
The CEO primarily wants to improve punctuality, which is damaging the company's image, but she also aims to turn around the operating result.
($1 = 0.8431 euros)
(Reporting by Christian Kraemer in Berlin, writing by Miranda Murray, editing by Thomas Seythal)
