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Tuesday, Nov 15
2011, 2:46 PM
Sources say the USPS is considering major restructuring options as it faces a possible default...
Sources say the USPS is considering major restructuring options as it faces a possible default on paying for its heath benefits and might not have enough cash to keep delivering mail in 2012. With labor and retirements costs devouring 80% of its budget, a proposed plan to close 3.7K post offices and slash 220K jobs by 2015 doesn't go far enough to bring the agency to profitability.