The editorial committee of The Irish Times is to meet the newspaper's editor, Mr Conor Brady, today to discuss the financial problems at the newspaper. The company's group of unions is meeting separately to approve the appointment of financial advisers.
Meanwhile, Independent Newspapers (Ireland) has called its unions to a meeting on November 20th to consider further cost- cutting measures. Its head of human resources, Mr Declan Carlisle, said the talks were a continuation of those last September and reflected "the changing circumstances of the economy".
The Independent is seeking cutbacks in variable costs such as staff expenses, overtime and use of freelance cover. The National Union of Journalists has referred a dispute over a company decision to withdraw an early retirement package unilaterally to the Labour Relations Commission.
The Irish Times is seeking 250 redundancies as part of its rescue plan aimed at averting estimated losses of £17.5 million next year. It is expected to lose £2 million this year after recording profits of £14.5 million last year.
Today's Irish Times meeting takes place against a backdrop of reports indicating that large financial packages have been provided to a number of senior executives.
The editorial committee, which is elected by the newspaper's journalists, is likely to be seeking assurances that any cutbacks do not undermine the editorial quality or independence of the newspaper. The group of unions will want evidence that the present proposals are not a "panic reaction", that senior management will address structural problems at the newspaper and show a willingness to share in cutbacks now being sought from other employees.
The group of unions is expected to appoint Mr Paul Sweeney of Paul Sweeney and Associates, and Mr Greg Sparks of Farrell Grant Sparks as its advisers. Both men are also advising the Aer Lingus unions on restructuring proposals.
Irish Times unions will be meeting management on Thursday to agree terms of reference for their advisers to examine the newspaper's accounts. Union representatives were reluctant to comment on yesterday's newspaper reports.
NUJ national organiser Mr Seamus Dooley said: "We don't want to comment on individual media leaks. We want to see the figures in their wider financial context before we assess them."