Deutsche Bahn set for 1 billion euros in losses in 2015

Berlin (dpa) - German rail company Deutsche Bahn is expecting losses of 1 billion euros (1.1 billion dollars) this year following high restructuring costs, problems with goods traffic, strikes and weather damage, a source with links to the supervisory board said Wednesday.According to media reports, the losses might be as high as 1.3 billion euros.Already in July, Deutsche Bahn had revised its predicted profits downwards, but was still expecting to make a profit of 1 billion euros. Despite a record turnover of 40.6 billion euros this year, the company is now expected to make a loss.Meanwhile changes within the company are taking shape after more than two decades as Deutsche Bahn management is due to present the supervisory board with a programme on December 16 "for higher quality, more customers and more success," a spokesman said.Deutsche Bahn CEO Ruediger Grube is planning to invest some 20 billion euros over a five-year period in improving the quality of its service, including better information systems on platforms and early warning systems for points disruptions.Grube has so far not ruled out job cuts. With its 196,000 employees, Deutsche Bahn is one of Germany‘s largest employers. The company also employs more than 100,000 people abroad.