This post originally appeared at 24/7 Wall St.The U.S. Postal service plans to close nearly half of the nation’s mail processing centres beginning May 15th. The move, which follows a five-month study on 264 of the country’s 461 centres, puts more than 35,000 workers’ jobs at stake. 24/7 Wall St. has identified the nine states where the USPS plans to close the most mail centres.
The plan is USPS’ latest attempt to stem mounting losses. At the current rate, the postal service’s debt is projected to reach $18 billion by 2015. The mail centre consolidations are part of a plan to save $2 billion per year and $20 billion by 2015.
While it is still not clear exactly how these changes will affect delivery, a recent plan currently under consideration would make overnight delivery for first class mail impossible in many locations.
The USPS is the first to point out that mail volume has declined precipitously because of electronic mail and the downturn in the economy. This places the postal service in an untenable position as it relies on revenue from mail service instead of tax dollars.
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