Post Office floats idea of cutting mail delivery to five days
Wall Street Journal editorial page writer Jillian Melchior discusses how the head of the U.S. Postal Service floated a new proposal, which would cut mail delivery to five days a week, in an attempt to save money.
Not only is the U.S. Postal Service delivering less mail – it is now delivering fewer packages Opens a New Window. after it warned Congress Opens a New Window. it could run out of cash in the not so distant future.
In the agency’s latest quarterly statement, it reported a net loss of nearly $2.3 billion as it delivered 3.2 percent fewer packages.
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Revenue from packages, however, increased due to higher prices.
But the decline in package volume – the first decrease in nearly a decade – could spell even more trouble for the financially-stricken agency, as its courier competitors ramp up delivery efforts to compete with the likes of Amazon. Packages were also one area of concentration for the Postal Service as it worked on a reform plan to shore up its finances…..More Here