Hillary Vaughn of FOX Business reports what the U.S. Postal Service is doing to address budget issues and the increase in postal voting.
WASHINGTON – The US Postal Service (USPS) said on Wednesday that it is offering early retirement to non-union employees, while consolidating postal districts in an effort to contain billions in red ink.
The USPS will merge the existing 67 postal service districts in 50 districts and also centralize marketing and retail efforts at the district level, Postmaster General Louis DeJoy said in a statement.
The USPS said voluntary early retirement offers go to employees who do not want to negotiate at headquarters and district offices, refusing to say how many jobs they were trying to eliminate.
USPS NOTCHES QUARTERLY PROFIT INCREASED IN THE COOM-DRIVEN ECOMMERCE SHOPPING
DeJoy plans to launch a new 10-year strategic balance plan this month.
Last month, DeJoy told lawmakers that the US postal system is losing $ 10 billion a year and is in dire need of legislative reform and relief. “I would suggest that we are in a deadly spiral,” said DeJoy.
Separately, the USPS said on Wednesday that it will conduct an environmental impact statement on its planned purchase of 50,000 to 165,000 delivery vehicles in 10 years.
DeJoy said last month that the USPS is committed to making electric vehicles account for 10% of its next generation fleet.
USPS WILL NOT BE SAVED WITH MORE MONEY
The USPS last month signed a $ 482 million contract with Oshkosh Defense to finalize the production of the next generation postal vehicles. Workhorse Group Inc said this week that it met with the USPS on Wednesday after the electric vehicle maker lost a multi-billion dollar contract to Oshkosh. The USPS declined to comment.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| OSK | OSHKOSH | 108.84 | +1.10 | + 1.02% |
The USPS will assess the environmental impacts of purchases and operations “, as well as an off-the-shelf commercial vehicle alternative and a ‘no action’ alternative,” it said in a statement.
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The USPS faces ever-decreasing volumes of first-class correspondence, rising employee compensation and benefits costs, and increased unfunded liabilities.
Postal Council President Ron Bloom, who said the USPS currently has projections of losing $ 160 billion over the next decade, told lawmakers last month “we can’t just throw money at the problem. We need to address the systemic problems that affect its outdated model. “