Reform Delayed, USPS Must Seek More Cost Savings
Mark your calendar for Mediaweek, October 29-30 in New York City. We’ll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!
WASHINGTON, DC—The 112th Congress allowed Mr. ZIP to go over the fiscal cliff without a reform package for the U.S. Postal Service (USPS), though both chambers are promising swift action to help the institution find its way to a sustainable track.
The USPS has all but maxed out its options: It lost nearly $16 billion in fiscal year 2012 and is losing money at an alarming clip, an estimated $25 million per day. The five-year plan it drew up, one that promised $22 million in annual cost savings while closing more than 200 of its 461 mail processing plants, was incumbent upon Congress restructuring health care and pension obligations, as well as terminating Saturday delivery.
Senator
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in