The Labour Relations Commission has invited Bus Éireann management and unions to attend talks after unions rejected a Labour Court recommendation on cost reductions.

LRC Director of Conciliation Kevin Foley said he would be grateful for an opportunity to meet with the principals on all sides in order to be briefed on their assessment of the current situation.

The meeting is expected to take place sometime in the week commencing 24 March.

Bus Éireann said it would accept the invitation and would engage constructively in the process.

In a statement, it said that according to the Labour Court and the trade unions' own independent financial assessors; Bus Éireann was in a precarious financial situation with the very viability of the company under threat.

Bus Éireann says failure to achieve the savings outlined in the Labour Court recommendation would only worsen the company's financial situation and place the company in further jeopardy.

No union representatives could be contacted for comment.