Postal Service reorganizes as losses mount

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Washington, D.C.—The U.S. Postal Service has announced job cuts and office closures to trim its operating expenses, even as newly released numbers for February reveal continuing losses.

A “redesigned” organization announced by the USPS will include the elimination of about 7,500 jobs, largely via an incentive-driven voluntary early retirement plan, and the closing of seven district offices.

Meanwhile, the Postal Service reported a net loss of $1.1 billion for February, as overall mail volume dropped by 1.5%. The volume of standard mail, used most often by commercial mailers, held steady for the month.

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