Unions and management at Bus Éireann will be hoping to resolve their dispute as talks underway today.

The NBRU and SIPTU will sit down with representatives from the company at the Workplace Relations Commission at 10.30am this morning.

Planned strike action which was due to get underway this morning has been suspended to allow for the fresh talks.

Bus Éireann has warned that it faces insolvency within months if they do not cut costs.

SIPTU, meanwhile, has said that proposals to "savage our members moderate terms and conditions and further privatise a proud state owned transport company must be resisted at all costs".

Industry Correspondent with the Irish Times Martin Wall told Newstalk Breakfast that new options emerged at the weekend which could offer the company ways to save money.

"Now we believe the company - again with the support of the CIE Group - will be able to put in place a voluntary redundancy scheme," he explained.

"We also learned on Friday that, where that would be part-funded by the CIE Group, Bus Éireann would have to make some contribution itself - and that may come through the sale of assets, of property that it actually owns."

On the subject of a potential compromise, he observed: "On the surface at least, it seems a lot more positive than it was a couple of days ago".

The NBRU announced a '4 Point Plan' in advance of the discussions on the Bus Éireann Expressway crisis - which includes a sectoral employment order and a continued opposition to the 'diminution of rural bus services.

General Secretary Dermot O'Leary outlined some of what they will be looking for at today's meeting.