Post Office Targets 155,000 Job Cuts

By Douglas A. McIntyre Published Feb 18, 6:29PM EST

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In a move meant to turn the Postal Service to a profit and turn its net debt into cash, the management of the agency proposes that 155,000 jobs be eliminated between this year and 2016

The plan set by the Postmaster General is meant to salvage the services from a state of near bankruptcy, burdening a drop in use of its services and ever rising pension costs.

If successful, the budget projects the USPS would make $6.2 billion from 2014, and have a cash surplus of $7.1 billion in 2016.

Of course, it will be nearly impossible to win a political battle which would mean closing thousands of Post Offices, and firing tens of thousands of union workers

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.