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.

Comments (2)
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    Put the USPS out of our misery already.. They can buy insurance like the rest of us will have to under O'care.
    15 Nov 2011, 02:58 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (847) | Send Message
     
    The best they could do so far was to negotiate a two year wage freeze with the unions. Time for a reality check...
    15 Nov 2011, 03:02 PM Reply Like
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