Bundesbank to save 280m euros a year with job cuts

Planned job cuts by the Deutsche Bundesbank will result in savings of 280m euros a year from 2008 onwards, according to Georg Fabritius the head of the central bank. If the planned savings are achieved, the bank's profits will increase, which will benefit the federal budget.

Source: Reuters

Georg Fabritius, the head of Deutsche Bundesbank, the German central bank, says that the bank will save 280m euros a year from 2008 onwards, as a result of the planned job cuts. By the end of 2007, the bank