Bundesbank may cut further 1,100 staff

According to the Bundesbank's works council the German central bank is planning to cut a further 1, 100 jobs to add to the 5, 000 redundancies already announced.

Karl-Heinz Schmidt, head of the works council, told Welt am Sonntag newspaper that the central bank would have less than 10,000 workers in four to five years, down from 15,800 at the start of 2003.