PostalServiceBudget

Cuts to First-Class Mail to Slow Delivery in 2012

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.

Without a Makeover, Postal Service Is Doomed

On Tuesday, Postmaster General Patrick Donahoe went before the Senate Homeland Security and Governmental Affairs Committee to plead for a government bailout. USPS is losing $9.2 billion a year and is currently on track to lose $20 billion annually by 2015. How can it be saved?