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.