The financially troubled Postal Service said Thursday it may close more than 250 mail processing facilities across the country and plans to reduce service standards for first-class mail in an effort to cut costs.
Postmaster General Patrick Donahoe warned that the Postal Service is on "the brink of default" as he battles to keep his agency solvent. Without legislation by Sept. 30, the agency "will default on a mandated $5.5 billion payment to the Treasury," Donahoe told the Senate Homeland Security and Governmental Affairs...
What the Postal Service needs right now are changes in the law allowing it to reduce delivery to five days-a-week and to resolve an annual requirement for it to pay $5.5 billion into a fund for future retiree medical costs, Donahoe said in a telephone interview.
Does misery really love company? A new study suggests maybe.
DebugScreen: mobile
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"uri": "/2011/09/15/postal-service-proposes-cuts-in-processing-centers/",
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"summary": "Postmaster General Patrick Donahoe warned that the Postal Service is on \"the brink of default\" as he battles to keep his agency solvent. Without legislation by Sept. 30, the agency \"will default on a mandated $5.5 billion payment to the Treasury,\" Donahoe told the Senate Homeland Security and Governmental Affairs...",
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"summary": "What the Postal Service needs right now are changes in the law allowing it to reduce delivery to five days-a-week and to resolve an annual requirement for it to pay $5.5 billion into a fund for future retiree medical costs, Donahoe said in a telephone interview.",
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"summary": "The financially troubled Postal Service is suspending its employer contribution to the Federal Employee Retirement System.",
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