Postal Service could shut down by winter
WASHINGTON, Sept. 5 (UPI) -- The U.S. Postal Service, facing a deficit that will reach $9.2 billion this fiscal year, could be forced to close this winter, officials say.
"Our situation is extremely serious," Postmaster General Patrick R. Donahoe said in a New York Times article published Monday.
Donahoe has been advocating spending cutbacks recently that would eliminate Saturday mail delivery, close as many as 3,700 postal locations and result in layoffs of 120,000 employees, nearly 20 percent of the Postal Service's workforce.
The delivery service, which has no-layoff clauses with unions, faces higher costs, particularly for labor, which accounts for 80 percent of its expenses.
Comment
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Comment by TheLasersShadow on September 12, 2011 at 2:34am
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It wont be shut down it will become just another parasite on the american people. The USPS need to be sold to Fedex and UPS, stamps will cost more but thats the market cost of delivering a letter today.
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Comment by Justin A Horne on September 6, 2011 at 5:54pm
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He has been talking about how Donahoe plans on cutting 100,000 jobs, 20 billion from the current 75 billion, cutting sorting facilities, eliminating Saturday mail, the possibility they might close down his sorting facility. The hearing was held today.
http://www.washingtonpost.com/blogs/federal-eye/post/postal-service...
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Comment by Cryptocurrency on September 6, 2011 at 5:12pm
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Bailout? Hey they did it for the Saudi Royal family and Bank of China. I can't imagine the implications of the postal service shutting down.
What has you father said about it Justin? Any details you could share??
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Comment by youhavetoforgiveme on September 6, 2011 at 5:05pm
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Just a few short years ago....who'da thought?
...nor gloom of night will sway the carrier from his appointed rounds.....
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Comment by truth on September 6, 2011 at 4:27am
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Some thing is up here, it is the only agency that is to fund its existence years in advance. Push for privatization?
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Not good. My father works for The U.S. Postal Service and has been talking about this scenario for two years now.
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