It’s no secret that the U.S. Postal Service is in trouble. It lost $3.1 billion in just three months last spring and may have to default on pre-payments for retiree health benefits at the end of the year. To buy time, USPS plans to lay off 120,000 workers, close more than 3,000 local post offices, some 10 percent of the total, and close or consolidate some 250 processing centers. It would add one day to the delivery schedule for first-class mail.
There will be a huge impact on business.
Some even have suggested that the USPS could shut down entirely this winter if Congress doesn’t act to save it. “If we do nothing, if we don’t react in a smart, appropriate way, the postal service could literally close down later this year,” Sen. Thomas R. Carper, D-Del., told The New York Times earlier this month. Carper, who chairs the Senate subcommittee with jurisdiction over the Postal Service, wants to give management more flexibility on a range of issues, including eliminating Saturday delivery and offering services in related areas such as electronic mail options for businesses.
More than just mail delivery would suffer if the Postal Service shrinks to a mere shadow of its former self. Retailers, vehicle manufacturers, and even USPS competitors are among those likely to take a hit, but there may be a silver lining for others. Click here to find out which ones.