Thursday February 20, 2020

Budget Fallout: Hard road lies ahead for CIE

The deferral of a €20m cost-saving plan doesn't hide the complex financial difficulty faced by CIE, writes Ian Kehoe.

13th January, 2013
The sore between management and unions at CIE has been festering for months. Photo: Photocall

Its shareholder is vexed and frustrated, while its lenders are becoming increasingly cautious.

Even its auditors, PricewaterhouseCoopers (PwC), are worried about the parlous state of its finances. Last week, it got worse for CIE, the embattled and indebted state transport operator.

The sore between the management and unions has been festering for months. Management was intent on forcing through a €20 million cost-cutting plan. Last week, Siptu became the third trade union at Bus Eireann...

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