After announcing a $2.5 billion net loss for the third quarter of the year earlier this month, the US Postal Service revealed a plan to save money. This plan could make some mail delivery slower.
According to a press release from the USPS, the proposed operational changes are “designed to boost service reliability, cost efficiency, and overall productivity,” and should save the agency $30 billion over the next decade ($3 billion annually). Although the postal service is a government agency, it is financially independent.
In recent years, financial struggles have become harder for the service. During the third quarter of last year, it reported $1.7 billion in losses. That’s even as post offices have become overwhelmed with online shopping packages from sites like Amazon.
“Financial challenges like this are nothing new,” according to the Government Accountability Office last year. “The U.S. Postal Service (USPS) has long faced financial challenges that threaten its ability to deliver your mail and pay retirees’ benefits, as well …