On CNN Live today: U.S. Postal Service loses $5 billion so far, wants to close 681 post offices
No podcast today, but I’ll be on CNN Live‘s Blogger Bunch today at noon.
We’ll be talking about the Postal Service, which lost $2.4 billion for the quarter ended June 30, with a total loss of $4.7 billion so far this year. Additionally,
It has an annual obligation to chock up to $5.8 billion to pre-fund retiree health benefits, but is banking on passed legislation that would boost its ability to take from the Treasury Department.
The U.S. Postal Service is considering closing 681 offices nationwide, including several in the Denver area, as well as weighing whether to cut post office hours, consolidate processing centers and end Saturday delivery.
The service said it is on pace to achieve its 2009 target of more than $6 billion in total cost reductions and reduce work hours by more than 100 million for the entire year.
Meanwhile, FedEx is expanding overseas