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Search Tags: USPS
Vincent Melehy, federal employment expert and an attorney with Melehy and Associates, joins The Federal Drive with Tom Temin to offer his analysis of the case.
There are a number of proposals to put the cash-strapped Postal Service on firmer financial ground. But Sen. Ben Cardin (D-Md.) says many of them would reduce the service levels the public has come to expect and further drive away business. He joined In Depth with Francis to discuss why he thinks maintaining service levels is the best framework for fixing the Postal Service's finances.
The Postal Service's revamped five-year business plan, which is aimed at putting the troubled agency on firmer financial ground, is made up of a number of elements. But Joe Corbett, the USPS chief financial officer, said that all of the changes the agency recommends need to be taken up in order to restore the Postal Service to financial stability.
The U.S. Postal Service recommends cutting its network of mail-processing centers in half, capping a five-month review of its facilities as part of a plan to restore it to financial stability. Of 264 facilities examined, 223 will be consolidated or closed. USPS officials projects the closures will affect 30,000 full-time employees.
Sen. Tom Carper (D-Del.), chairman of the Senate Homeland Security and Governmental Affairs subcommittee on federal financial management, told In Depth with Francis Rose the comparison between the Postal Service and Detroit auto-makers may seem "unlikely." But the plan that turned around the bailed-out auto industry could prevent having to bail out the Postal Service in the first place.
The Postal Service's strategic five-year plan proposes cutting the workforce by 155,000 by 2016 and creating its own health benefit program for employees and retirees to return to financial stability.
In a letter to Congress, Postmaster General Patrick Donahoe described an updated five-year cost-cutting plan put together in coordination with Wall Street adviser Evercore Partners Inc.
A hacker had stolen the credit card information of more the 16,000 users of the Army and Air Force Exchange Service website.
The Postal Service said large losses would continue until the agency can trim its workforce, close some facilities, and restructure its healthcare program. The Postal Service posted a total loss of $5.1 billion in fiscal 2011.
Dallan Wordekemper, federal preservation officer with the Postal Service, restores New Deal-era murals at U.S. post offices across the country.