Cost Cutting, U.s. Postal Service | featured news

The U.S. Postal   Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually, the financially struggling agency says.

Facing bankruptcy, the U.S. Postal Service is pushing ahead with unprecedented cuts to first-class mail next spring that will slow delivery and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day.

The Postal Service says it may close more than 250 mail processing facilities across the country in an effort to cut costs.

The Postal Service is offering $15,000 buyouts to employees in an effort to cut costs at a time when the post office is being ...