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I found an interesting and sobering article while searching through the news this morning. It appears that the U.S. Postal Service may close up to 1,000 local offices thanks to snowballing financial issues. There are other options, including: reducing post office hours, consolidating processing centers, and doing away with Saturday delivery. Last Thursday, the Postal Service presented a list of 681 post offices that it will study for possible closure, with most of them in urban areas - located close to other offices. Such a move would not impact delivery at homes and businesses. Ending Saturday delivery is expected to save $2 billion to $3 billion a year, as current mail volumes can't support Saturday (six-day) delivery. According to the article, the volume of regular mail dropped 5% last year and is expected to drop 15% in 2009 --- this would result in a $7billion loss.

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Post Office may cut delivery, close branches originally appeared on BloggingStocks on Tue, 04 Aug 2009 15:30:00 EST. Please see our terms for use of feeds.

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