USPS Ponders Closures, Consolidations

WASHINGTON, DC—Facing a potential loss of nearly $7 billion this fiscal year, the United States Postal Service (USPS) is exploring the closure or consolidation of nearly 700 locations nationwide in an effort to right its financial ship. The USPS sent a list of 688 offices to the independent Postal Regulatory Commission for review, according to The Associated Press.

The moves come despite recent revenue-building measures such as the two cent increase in stamps this past May, staff reductions and the removal of collection boxes. However, mail volume is expected to drop by 28 billion pieces this year.