March 21, 2009

Postal Service Reducing Workforce, Offices as Mail Volume Falls

According to Bloomberg: “The U.S. Postal Service said it will offer early retirement to about 150,000 workers, close administrative offices and eliminate more than 3,000 jobs to help resolve a financial crisis as the volume of mail declines.

Stamped mail is down to 1964 levels, officials said, contributing to a deficit that reached $2.8 billion in 2008 and is likely to be larger this year.

Business at the post office has dropped as economic activity slows and people and businesses turn to e-mail and electronic billing and payment, postal officials have said. The service yesterday said there are “no signs of economic recovery in sight.” “

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