Walking towards the grim truth of bankruptcy, the U.S. Postal Service has decided to adjust their program by slowing delivery for first class mail and removing the option to receive a stamped letter the next day.
The estimated $3 billion reduction plan will hopefully help the Postal Service and wake up Congress to help them with this situation.
These changes will ultimately affect everything from Netflix’s DVDs by mail, newspaper and magazine deliveries to check payments.
Delivery to rural or suburban areas will see a major delay in their services.
Jim Corridore, analyst with S&P Capital IQ, said, “It’s a potentially major change, but I don’t think consumers are focused on it and it won’t register until the service goes away.”
Also in the cuts, nearly half of the 500 mail processing centers across the country will be closed. Because of this, around 3,700 local post offices will close down as well.
Postmaster General Patrick Donahoe said in an interview that this decision has come about due to the agency waiting for Congress to “grant it authority to reduce delivery to five days a week, raise stamp prices and reduce health care and other labor costs.
Throughout the country, people are upset about this change and the mailing system we once knew might be changing forever.
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