United States Postal Service (USPS) - the US Postal Service, announced that it will soon lay off 7,500 people. This will be done as part of a major restructuring undertaken to reduce costs.
USPS - one of the oldest brands in the United States, the service began its activity in 1775. It is the largest postal service, accounting for almost half of all postal shipments in the world. However, the last few years USPS listed in the ranks of unprofitable. Moreover, in the 2010 financial year alone, losses exceeded $8 billion. There is a need for restructuring.
First of all, it will mean massive layoffs. 7,500 people will lose their jobs, saving about $750 million annually. At the same time, it is stated that employees who have already worked in USPS a certain number of years, will receive compensation of $20,000 each.
Some small offices will also be closed - about two thousand across the country. They are also considering stopping delivery of correspondence on Saturdays, which will save another 600 million. However, for the latter, the law will have to be amended, according to which mail in the United States must be delivered six days a week. USPS has already submitted an application to Congress to amend the legislation.