In a last-ditch effort to save itself from bankruptcy, the Postal Service is forging ahead with plans to close half of its 500 mail processing centers and roughly 3,700 of its post offices. The result: Deliveries will take longer.
The cash-strapped U.S. Postal Service said Monday it is seeking to move quickly to close 252 mail processing centers and slow first-class delivery next spring, citing steadily declining mail volume. The cuts are part of $3 billion in reductions aimed at helping the agency avert bankruptcy next year.
The U.S. Postal Service released a list of nearly 3,700 post offices that it will consider shuttering. The USPS lost more than $2.2 billion last quarter, and has warned that it will run out of money in September, so such closures are probably inevitable.