USPS Makes Cuts To Avoid Bankruptcy

: Chris Lee Law Firm

  Filed under: News

usps cutsFor years the United States Postal Service has struggled to keep afloat in a dying market. With online bill pay services and unbeatable prices from big name shipping providers, the USPS hasn’t been able to remain profitable. After considering filing for bankruptcy earlier this year, the USPS has developed an alternative plan that will hopefully resolve their financial worries.

What About Services?

The USPS is going to be making unprecedented cuts to services for the first time in nearly 40 years, as an attempt to stave of financial insolvency. They are planning to implement nearly $3 billion in cost-saving service cuts by slowing the delivery rate for first class mail from next day arrival to two day arrival. This  means that bills, prescription drugs, magazines and even Netflix DVD’s will take an extra day or two to arrive at their destinations starting as early as next Spring. Further cuts are focused at closing several service locations and mail processing centers, both of which provide numerous employment opportunities to local communities and mean inevitable job loss for thousands of workers.

The initial plan to help combat a possible bankruptcy included innovative ideas such as allowing paid advertisements to be placed on the side of mail trucks and obtaining approval to deliver alcohol to homes. While tossing around such ideas met some opposition in earlier months, now many are wishing the USPS has chosen money making options rather than focus on cost-saving service cuts.

 


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