Efforts to reform and restructure Greece's railways had already led to a 25 percent reduction in OSE operating costs in 2010 compared with 2009, while the train operating subsidiary TRAINOSE reduced running costs by 32.84 percent, the infrastructure, transport and networks ministry said on Monday.

The ministry said the reforms were taking place within the timeframe provided and that performance for OSE in January 2011 was improved by 61.12 percent relative to January 2010.

While not releasing full financial date for OSE and TRAINOSE, the ministry said that manager bonefits that increased pay by 40 percent of their base salary had been scrapped, with managers now only eligible for one benefit due to their position ranging from 3 percent of base salary for a team manager up to 25 percent of base salary for a division director.

Of the programmed 1,654 staff transfers from OSE, 800 have already taken place and the remainder are pending since they also involve another four ministries.