Talks between management and SIPTU at the Greyhound Waste Recycling in Dublin are taking place.

The talks are to resolve the bitter 15-week dispute at the company over pay cuts.

It is understood that between 50 and 60 of the 78 workers are considering redundancy.

The remainder wish to retain their jobs.

The main outstanding sticking point involves the timing of the redundancy payments to those leaving the company.

One proposal would see redundancy terms of 31 to 32 weeks including statutory redundancy being paid initially.

A further half-week may be paid at an agreed point in the future.

However, it is understood that workers are reluctant to allow deferral of any element of their redundancy payments.

This is due to a breakdown of trust between staff and management.

One source has estimated that the cost of the redundancy and buyout package is around €1.5m.

It is understood the company is engaged in negotiations with banks to source that funding.

Those who stay will receive a lump sum buy out of their terms and conditions amounting to 30% of what they would have received had they taken redundancy.

It is understood those who stay will receive a pay reduction of between 15% to 20%- this is down from the original reduction of 35%. 

In addition, sources said that around 14 workers might be ring-fenced on their existing terms and conditions if the company retains certain contracts due for renewal shortly.

On 17 June, 78 operatives were locked out of the company after they refused to accept a wage cut of over a third.

Since then, they have been picketing outside the company's plant in Clondalkin, Co Dublin.

The company alleged that some of the picketers and their supporters had engaged in an illegal blockade of the depot, halting bin collections.

10 days ago, the company went to the High Court seeking enforcement of earlier orders prohibiting illegal activity on the picket line.

There were angry scenes outside the court between strikers and the remaining workers in the company who fear the dispute could close the company with the loss of all jobs.

The legal proceedings were adjourned to allow for intensive talks.

While picketing has continued, the blockade was lifted to allow the resumption of bin collections.

The matter is due back in the High Court this Tuesday.