Bus Eireann to cut overtime and annual leave as part of radical saving measures
Bus Eireann is to announce a ban on all overtime for staff as part of radical measures to save up to €8m over the next few weeks.
According to the Irish Times, the State-owned firm will also put a hold on recruitment and restrict staff carrying annual leave days from last year.
Acting CEO Ray Hernan has told staff that forecasted losses for 2016 are now estimated at €8m, and that "collectively we cannot allow this trend to continue".
Earlier this week, Mr Hernan said that "change is required across the entire company to ensure it can compete in an increasingly competitive marketplace, which is more customer focused".
"Operational efficiencies and a sharp focus on cost drivers will form part of this, along with initiatives to deliver savings that will be announced shortly and activated without delay," the company said.
Mr Hernan has recently been appointed to his current role following the departure of Martin Nolan who stepped down from his role, a year before he was due to depart this week.