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06/06/2012
Bus Éireann Meets With Unions To Discuss Cost Saving Measures
Bus Éireann has told unions that it is seeking annual cost savings of €20m, with €9m coming from payroll savings.
The bus operator has said while it is not seeking redundancies or cuts in basic pay at present, this is conditional on the implementation of a significant package of cost reductions to employees' terms and conditions.
At this morning’s meeting, management presented a five-year plan aimed at reducing the company's deficit to €5m this year, and returning it to profitability next year.
The company warns that without these measures, Bus Éireann faces potential annual losses of €16m.
The company is not actively seeking additional redundancies, but its voluntary severance scheme will remain in place for 12 months at the discretion of the company.
However, it notes that funding for voluntary severance is problematic given the deteriorating financial situation.
Bus Éireann also wants clerical and executive employees to increase their working week from 36 hours to 39.
In addition, annual leave for all staff will be cut by three days for the next three years, while sick pay entitlements, overtime, shift and premium payments will all be reduced.
New recruits will also start on lower wage rates.
The company intends to introduce these measures from 13 August this year.
(H/GK)
The bus operator has said while it is not seeking redundancies or cuts in basic pay at present, this is conditional on the implementation of a significant package of cost reductions to employees' terms and conditions.
At this morning’s meeting, management presented a five-year plan aimed at reducing the company's deficit to €5m this year, and returning it to profitability next year.
The company warns that without these measures, Bus Éireann faces potential annual losses of €16m.
The company is not actively seeking additional redundancies, but its voluntary severance scheme will remain in place for 12 months at the discretion of the company.
However, it notes that funding for voluntary severance is problematic given the deteriorating financial situation.
Bus Éireann also wants clerical and executive employees to increase their working week from 36 hours to 39.
In addition, annual leave for all staff will be cut by three days for the next three years, while sick pay entitlements, overtime, shift and premium payments will all be reduced.
New recruits will also start on lower wage rates.
The company intends to introduce these measures from 13 August this year.
(H/GK)
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