Postal workers worry about job security

There could be 22,500 jobs eliminated nationwide under the plan that the Postal Service says would save it $2 billion annually. The Postmaster General Patrick Donahoe said he will not lay off any workers and accomplish the cuts by cutting overtime and part-time hours and offering buy outs to current employees.

First class mail, the most profitable product for the postal service, has fallen by a third since the peak in 2001 amid the rise of email and electronic banking. But the key culprit for the Postal Service’s financial woes has been a 2006 congressional mandate, under which it has to pre-fund healthcare benefits for future retirees. The USPS has been borrowing billions of dollars from taxpayers to make up for the shortfalls.

There could be 22,500 jobs eliminated nationwide under the plan that the Postal Service says would save it $2 billion annually. The Postmaster General Patrick Donahoe said he will not lay off any workers and accomplish the cuts by cutting overtime and part-time hours and offering buy outs to current employees.

via Postal workers worry about job security – Feb. 6, 2013.

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