Under the plan, employees earning less than 56 thousand a year would have a pay cut of 1.7%, and those on more than 100 thousand euro would face a 6.1% cut.
Increments would continue and pension payments would be maintained at their current rates.
The National Bus and Rail workers Union is preparing to ballot its members on the plan.
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Dermot O'Leary is the General Secretary of the union - he's positive about the LRC's suggestions:
