Unions have previously warned that strike action is 'inevitable' at the company
The board of Bus Éireann has said "there may be an opportunity" for further talks to avoid industrial action by unions.
Talks between the company and unions - including SIPTU and the NBRU - at the Workplace Relations Commission (WRC) broke down earlier this week.
Bus Éireann has claimed it must impose a range of measures to deal with their financial crisis, and have warned they could face insolvency in a matter of months.
Unions have suggested that some of the proposed measures would "savage" employees' terms & conditions of employment.
The NBRU has warned that strike action is now "inevitable" following the collapse of talks.
The company's board met earlier today, and management outlined a number of cost-saving proposals "which could be urgently implemented".
The board said it is now seeking written clarification from unions regarding their position.
In a statement, the board said: "Subject to this clarification, which is expected today, there may be an opportunity to re-engage in time-limited talks.
"The Board will re-convene again to approve the implementation of cost saving measures, which must be taken to avoid the risk of insolvency," it adds.