Dublin Bus has said it is deeply disappointed after the two main unions rejected the latest Labour Court deal.
The unions are now threatening strike action if the company goes ahead with cutbacks.
Both bus unions have rejected the deal brokered last week in the Labour Court, which followed a three-day strike over the August bank holiday weekend.
Siptu members voted by 72% against the proposals, while 67% of NBRU members voted no.
Dublin Bus said the outcome of the ballots is "disappointing", and comes "despite lengthy talks over the past 14 months" and "last week's efforts by the Labour Court".
However, Siptu's Willie Noone said there will be another strike if the company goes ahead with €11.7m worth of cuts.