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US Postal Service to end Saturday letter delivery US Postal Service to end Saturday letter delivery
(35 minutes later)
The US Postal Service is expected to announce that it will stop delivering first-class mail on Saturdays in an effort to save money. The US Postal Service plans to end Saturday delivery of first-class mail by August, in its latest cost-cutting drive.
The move is to begin by August, in a bid to save about $2bn (£1.3bn) a year. The move would save about $2bn (£1.3bn) a year, according to the agency.
But the USPS will still deliver parcels, a service that has grown by 14% since 2010. But the USPS will still deliver parcels six days a week, a service that has grown by 14% since 2010.
The financially troubled postal service lost nearly $16bn last year and has defaulted twice on required payments to the US government.The financially troubled postal service lost nearly $16bn last year and has defaulted twice on required payments to the US government.
The USPS, in the middle of a major restructuring, is projected to remain in the red this year. The 237-year-old institution is in the middle of a major restructuring, although it is projected to remain in the red this year.
Since 2006, the agency has reduced its costs by about $15bn and cut its workforce by 28%, the equivalent of 193,000 jobs.Since 2006, the agency has reduced its costs by about $15bn and cut its workforce by 28%, the equivalent of 193,000 jobs.
The new proposal, that letters are delivered to houses and businesses from Monday to Friday, while packages will still be delivered on Saturday, is a move that requires congressional approval. The new proposal may require congressional approval. Although the USPS does not receive taxpayer funding, it is subject to government control.
Although the USPS does not receive taxpayer funding, it is subject to government control. Postmaster General Patrick Donahoe told reporters on Wednesday of the plan to deliver letters to homes and businesses from Monday to Friday, with packages still to be delivered on Saturdays.
In excerpts of a speech the postmaster general was to deliver on Wednesday, Patrick Donahoe was to say: "The American public understands the financial challenges of the postal service and supports these steps as a responsible and reasonable approach to improving our financial situation." In excerpts of his speech, he was to say: "The American public understands the financial challenges of the postal service and supports these steps as a responsible and reasonable approach to improving our financial situation."
Research suggests seven in 10 Americans supported the shift to a five-day schedule, Mr Donahoe was due to say. Research suggests seven in 10 Americans support the shift to a five-day schedule, he says.
Despite the declining volume of letters and other mail, correspondents say the driving factor behind the financial difficulties at USPS is mandatory costs for future retirement health benefits. Analysts say the driving factor behind the financial difficulties at USPS is mandatory costs for future retirement health benefits.
The internet and competition from rivals such as FedEx and UPS have also weakened the agency.
But parcel deliveries have grown as consumers order more products from sites such as eBay and Amazon.