USPS still considering shuttering dozens of offices
A few months ago I wrote about the United States Postal Service’s study of more than 700 post offices that could be closed in an effort to cut costs. That number has now been pruned to 241, and further changes to the list of offices under review [PDF] are not out of the question.
Closing a post office branch is tricky business since there will invariably be people who regularly use that branch who don’t want to have to go elsewhere. You have to figure some of the offices on the original list are not on the updated list because someone complained to their representative in Congress.
At the same time, the USPS ended fiscal year 2009 with a $3.8 billion loss. The really scary part? Officials are predicting a $7.8 billion loss next year. The USPS recently explained the reasons for all the red ink.
With its financial problems, the USPS might seem like a prime candidate for bankruptcy. The agency does have close ties to the federal government, however, and employs 650,000 Americans. With that sort of impact on the economy, is it possible the feds might consider it “too big to fail”?