Staff are being asked to accept changes which the union said will hit the least well paid and those in frontline services hardest.
They include reduced enhancements and pay for unsociable working times, unpaid leave, loss of car allowances – as well as being told “several hundred” are likely to be made redundant in the coming months.
Around 2,900 have already been sent letters saying their jobs are “at risk”.
Mr Taylor said the union would continue to try to find alternatives to make the savings demanded.
Chief executive Graham Burgess admitted he was “disappointed” the document had become public but said there was “no presumption” they will need to sack staff.
But he said his role as chief executive meant he must “plan for all eventualities”, and added: “While I hope to reach agreement with the union we have to put in train a procedure that, should that not happen, members have the option to take whatever action they need.”