Good guys wear white hats
- Aug 23, 2011
- Reaction score
- Bham, AL
Postal Service on verge of going broke, shutting down
Our situation is extremely serious, the postmaster general, Patrick R. Donahoe, said in an interview. If Congress doesnt act, we will default.
In recent weeks, Mr. Donahoe has been pushing a series of painful cost-cutting measures to erase the agencys deficit, which will reach $9.2 billion this fiscal year. They include eliminating Saturday mail delivery, closing up to 3,700 postal locations and laying off 120,000 workers nearly one-fifth of the agencys work force despite a no-layoffs clause in the unions contracts.