Bus Éireann has confirmed the company is facing insolvency within 18 months unless decisive actions are taken to reverse losses.
The transport providers acting Chief Executive Ray Hernan has told staff the company is facing forecasted losses of 8m for 2016 and warned that, collectively we cannot allow this trend to continue.
The company has reportedly signed off on a new survival plan, drawn up by financial consultants, Grant Thornton which could lead to route cuts, job losses and lower pay for new recruits.
Mr Hernan said change is required across the entire company to ensure it can compete in an increasingly competitive marketplace, which is more customer focused.
He told staff members that the change process will be challenging wi…
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