Without Reform, USPS Set to Accelerate Cost Reductions

Citing the fact that the U.S. Postal Service (USPS) cannot wait indefinitely for legislation, the board of governors has directed management to accelerate the restructuring of Postal Service operations to further reduce costs in order to strengthen its finances. Specifically, the board approved restructuring initiatives and instructed the USPS to revise its 2012 five-year comprehensive plan to account for current financial and liquidity conditions.