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US Post Office Faces First-Ever Default on a Payment

Posted August 1st, 2012 at 6:40 pm (UTC-5)
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The United States Postal Service says for the first time in history, it will default on a payment into fund for health benefits for future retirees. Postal officials say they do not have the $5.5 billion owed to the U.S. Treasury Thursday. Officials also say they will likely miss another $5.6 billion owed in September. […]

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Postmaster General Warns the USPS Could Shut Down in 2012

Posted September 6th, 2011 at 9:50 pm (UTC-5)
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U.S. Postmaster General Patrick Donahoe is warning that the centuries-old agency could shut down next year if Congress does not allow it to restructure. Donahoe told a Senate committee Tuesday that the post office is on the brink of default. He said action is needed by the end of the month or it will default […]

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US Mail Workers Facing Massive Layoffs

Posted August 12th, 2011 at 11:50 am (UTC-5)
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The slumping economy and the increased use of email and smartphones is forcing the United States Postal Service to consider taking some drastic action. Draft proposals obtained by U.S. media Thursday and Friday show the Postal Service wants to get out of its existing union contracts and eliminate about 30 percent of its workforce over […]

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U.S. Postal Service Studies Closure of Nearly 4,000 Locations

Posted July 27th, 2011 at 6:00 am (UTC-5)
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Smartphones and online business is causing the United States Postal Service to evaluate the status of nearly 4,000 of its nearly 32,000 retail postal locations. The U.S. Postal Service said Tuesday it will begin the shift to a “village post office” model. The new business model would be operated by various local businesses, such as […]

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