(Reuters) – Deutsche Bahn is drawing up a list of cost-saving measures to offset billions of euros in losses and contain its debt, two sources at the German state-owned railway company told Reuters on Friday.
One of the sources called the measures an “emergency brake” for the group, which has faced a series of strikes and conceded wage increases and is under pressure to modernize its outdated infrastructure.
According to sources, the measures require in particular to seek prior agreement from management before proceeding with any new hiring or incurring any costs, particularly travel.
“A near group-wide hiring freeze and spending freeze are being prepared,” a source told Reuters.
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These measures would affect all sectors of Deutsche Bahn’s business, with the exception of its logistics subsidiary Schenker, which is currently up for sale, according to the sources.
A Deutsche Bahn spokesperson declined to comment on the reports.
The board of directors could decide on these plans as early as Tuesday, the sources said.
Deutsche Bahn’s net loss widened to nearly 2.4 billion euros in 2023, while its debt reached 34 billion euros.
(Reporting by Markus Wacket; writing by Friederike Heine; French version Dimitri Rhodes)
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