The board of Bus Éireann will try to come up with fixes to the firm's financial woes when it meets today.

Management have already warned they need to cut costs by up to €30 million.

The company is currently suffering major financial losses and has repeatedly indicated that it could face insolvency in the near future.

The Irish Times reports that the board may focus on roster changes, efficiencies and work practice reforms.

The company has said management is "carefully considering and finalising several options to address the financial solvency of the company".

However, unions say the will go on an all-out strike if their payroll is affected.

In a statement on Friday, SIPTU Sector Organiser Willie Noone said placards and other material for strike action are being sent to offices around the country.

He said: “Our members are prepared for the attack on Bus Éireann. They understand that a similar onslaught on wages and conditions will follow at the other public transport companies in the CIE Group.

"These attacks must be thwarted, because to fail to do so would undermine decades of work by SIPTU members to build efficient and effective transport companies which provide a decent days pay for a decent days work which allow them to support their families in difficult.”

Last week, unions accused the company of abusing state industrial relations institutions after talks aimed at avoiding a strike collapsed.