U.S. Postal Service slows down first-class mail in bid to stave off bankruptcy amid $3billion budget cuts
* Post office set to close 250 of nearly 500 mail processing centres as early as March
* USPS would also lower delivery standards in place since 1971
* Roughly 100,000 postal workers could lose their jobs, saving USPS around $6.5B After five years in the red, the post office faces imminent default this month on a $5.5billion annual payment to the Treasury for retiree health benefits. It is projected to have a record loss of $14.1billion next year amid steady declines in first-class mail volume. Mr Donahoe has said the agency must make cuts of $20 billion by 2015 to be profitable.
Read on at DailyMail
* Post office set to close 250 of nearly 500 mail processing centres as early as March
* USPS would also lower delivery standards in place since 1971
* Roughly 100,000 postal workers could lose their jobs, saving USPS around $6.5B After five years in the red, the post office faces imminent default this month on a $5.5billion annual payment to the Treasury for retiree health benefits. It is projected to have a record loss of $14.1billion next year amid steady declines in first-class mail volume. Mr Donahoe has said the agency must make cuts of $20 billion by 2015 to be profitable.
Read on at DailyMail
