The Group of unions representing staff at The Irish Timesremain adamant that any redundancies that form part of a company restructuring must be voluntary.
At a presentation of the findings by accountants Farrell, Grant, Sparks who conducted an investigation on behalf of the group of unions, staff heard that the level of losses at the paper were not sustainable.
They were also told that borrowing would be required to fund rationalisation costs and that a sound business plan for the future would be required to secure loans.
However, staff heard there was a possibility of saving some jobs by achieving savings by cutting non-payroll costs.
The report said the balance sheet is strong and that the company’s capital assets should allow it to raise money through borrowing.
Losses at The Irish Timeswebsite ireland.comwere also identified as being unsustainable. Staff at the website have already been briefed about an outline plan to shed 23 jobs as part of a separate business plan.
The Saturday Magazine and the Ticket - supplements introduced last year - were described as costly but the meeting heard management deemed them vital to the paper.
Management are seeking to shed 250 jobs as part of a plan to reduce running costs by £10 million. The company also hopes for £7.5 million in non-payroll savings.
The accountants report for the group of unions said future management and corporate structure should be addressed as part of management’s finalised plan.