iOS app Android app More

News Summary: Postal Service to cut Saturday mail

stumbleupon: News Summary: Postal Service to cut Saturday mail   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: News Summary: Postal Service to cut Saturday mail   del.icio.us: News Summary: Postal Service to cut Saturday mail

The Associated Press | February 6, 2013 12:23 PM EST | AP


CANCELED: The financially struggling U.S. Postal Service will stop delivering mail on Saturdays but continue to disburse packages six days a week. The Saturday mail cutback is to begin in August and should save about $2 billion annually.

POSTAGE DUE: The agency in November reported an annual loss of a record $15.9 billion for the last budget year and forecast more red ink in 2013.

FIRST-CLASS WOE: The agency's biggest problem – and the majority of the red ink in 2012 – was due to mounting mandatory costs for future retiree health benefits, accounting for $11.1 billion in losses.