Management of the U.S. Postal Services, bloated with too many employees to make money, plans to cut or lose 50,000 workers in the next few years. It is about time. Unfortunately, USPS also plans to hire additional workers.
Postmaster General Louis DeJoy’s plans were outlined by Route Fifty: “Right now, to get to break even, I think we may need to get 50,000 people out of the organization. But that’s OK, because over the next two years, 200,000 people [will] leave the organization for retirement.”
The USPS has more than 500,000 full-time workers and another 100,000 who are non-career workers.
DeJoy is the first postmaster general to address the problem in decades.
The Post Office has refused to deal with the fact that it is much too large for today’s needs. Much of its benefit to the American population has been replaced by email, UPS, and FedEx. It continues to have more than 30,000 Post Office locations. And, it continues to deliver mail six days a week in almost the entire country.
As electronic mail use continues to rise and UPS and FedEx are joined by Amazon.com in the delivery business, the Postal Service should shrink at an even faster rate than planned.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
