Postal Service Seeks Five-Day Delivery By 2011, Potter Says
March 29, 2010, 9:38 AM EDTBusiness Exchange By Angela Greiling Keane
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March 29 (Bloomberg) -- The U.S. Postal Service would cut Saturday mail delivery starting in the first half of 2011 under a plan the agency will present to its regulator tomorrow.
The Postal Service, which forecasts a $238 billion budget deficit by 2020, says it would save about $3.3 billion in the first year by eliminating delivery on one day and $5.1 billion annually by 2020.
“Given the fact that we’re facing such a huge deficit, we’d like to move as quickly as possible,” Postmaster General John Potter told reporters today in Washington.
The Washington-based Postal Service will file its five-day delivery proposal with the Postal Regulatory Commission. It is also seeking permission from the U.S. Congress, which requires delivery to all U.S. addresses six days a week.
--Editors: Steve Geimann, Larry Liebert
To contact the reporter on this story: Angela Greiling Keane in Washington at agreilingkea@bloomberg.net;
To contact the editor responsible for this story: Larry Liebert at lliebert@bloomberg.net.
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