Further, S. 1789 would force the USPS to wait at least two years before ending Saturday delivery and to maintain overnight delivery for at least three more years.
In order to realize the dramatic cost reductions necessary to keep the system afloat, the Senate bill would receive an $11 billion cash infusion from the government. A majority of this ($7 billion) would be earmarked for the buyout of up to 100,000 postal employees. The buyout would reduce the workforce and allow the USPS to make smaller payments into its retiree benefit package, a program that costs the postal service $5 billion annually and is seen as a major component of its financial troubles. The U.S. suffered a $3.3 billion loss for the fourth quarter of 2011 and a $5.1 billion loss for the year.
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.