US Postal Service seeks to save $30 billion over 10 years with delivery, other changes
4:33 pm Thursday, August 22nd, 2024
WASHINGTON (Reuters) – The U.S. Postal Service said on Thursday it is aiming to implement changes that it estimates will save the agency roughly $30 billion over the next decade.
Proposed changes include the adjustment of pick-up and drop-off times and faster delivery of some classes of mail – all of which will be discussed at a virtual conference, the Postal Service said.
The conference will be held next month to seek feedback from stakeholders, including the mailing and shipping community, the Postal Service said.
It said the changes will not go into effect until after the Nov. 5 general election and the 2024 peak season between Thanksgiving and New Year’s Day.
“As we integrate our transportation, processing, and delivery network to logically sequence the flow of mail and packages by deploying improved operating practices in our redesigned facilities network, we expect to improve service reliability, reduce cost and grow our business,” said Postmaster General Louis DeJoy.
The Postal Service, which amassed more than $87 billion in losses between 2007 and 2020, said the changes are expected to save about $3 billion annually.
It added that the initiative will also decrease the number of truck trips, leading to the agency reducing its carbon emissions.
(Reporting by Chris Sanders and Jasper Ward; editing by Jonathan Oatis)
