U.S. Postal Service Offering Early Retirement To 150,000 Workers

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By BoomerSooner77
Posted: 03-22-2009


The agency, which is facing larger losses despite planned rate increases, says it also has plans to reduce management staff by 15% and to close six administrative offices.


Washington -- Battered by the economic downturn, the U.S. Postal Service is offering early retirement to 150,000 workers, cutting management and closing offices, the agency said Friday.

The Postal Service lost $2.8 billion last year and is facing even larger losses this year despite rate increases -- including a 2-cent hike to 44 cents for a first-class stamp -- scheduled to take effect May 11.

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