View Full Version : USPS Due To Declining Revenues/Volume Faces $238 Billion In Losses 100,000 in Layoffs
HOLLYWOOD
03-02-2010, 03:16 PM
Needs a separate thread because of the shear size of losses and amount of Job cuts. And CONgress just gave the USPS like $5 Billion in Pension Bailout Cash last fall. WTF? (100,000 jobs and $238 Billion in losses)
http://www.usps.com/communications/newsroom/2010/pr10_018.htm
Postal Service Outlines 10-Year Plan to Address Declining Revenue, Volume Faces $238 BILLION in LOSSES
Seeks Flexibility on Operations, Delivery; Possible 2011 Price Increase
WASHINGTON — Facing unprecedented volume declines and a projected, cumulative $238 billion shortfall during the next decade, Postmaster General John E. Potter today outlined an aggressive plan of cost cutting, increased productivity, and an array of legislative and regulatory changes necessary to maintain a viable United States Postal Service.
http://finance.yahoo.com/news/USPS-has-cut-more-than-100000-cnnm-193115341.html?x=0&.v=4
USPS has to cut more than 100,000 jobs in the next five years
Aaron Smith, CNNMoney.com staff writer, On Tuesday March 2, 2010, 3:50 pm
The U.S. Postal Service said on Tuesday that it would reduce its workforce by another 30,000 positions and slash overtime this year in an effort to reduce costs.
Together these staffing reductions will result in cost savings equivalent to eliminating 50,000 full-time positions, according to Chief Financial Officer Joseph Corbett.
Corbett said the agency expects 30,000 employees to retire during fiscal year 2010, which ends Sept. 30, 2010. More positions will be eliminated as other employees resign and those positions are not filled.
"We expect that we will be able to get to the right staffing levels through natural attrition," he told CNNMoney.com.
The USPS, which is not permitted to lay off employees, is currently under a nationwide hiring freeze. It has eliminated jobs in the past by offering early retirement packages and through attrition. It cut a whopping 40,000 positions this way in fiscal 2009 alone.
The USPS has shed more than 100,000 jobs in the last five years. It currently has about 600,000 full-time employees, down from about 705,000 full-time workers in fiscal year 2005.
The agency has seen the volume of mail that it processes plummet in recent years, crushing revenue.
Mail volume dropped by 25 billion pieces in fiscal year 2009, an "unprecedented" 13% decline compared to the year before, according to the USPS. In the same time period, operating revenues dropped 9.1% to $68.1 billion.
Let the free market take over.
Cowlesy
03-02-2010, 03:19 PM
A quarter TRILLION dollars!?!?!?
@#()$*@#$@#
What the f*cking f*ck??
Texan4Life
03-02-2010, 03:24 PM
LOL
I think UPS and FedEx are turning profits...
Ill have to say I like the flat rate boxes though. I mail 15lbs in a small flat rate, a little over 5 bucks out the door. couldn't do that at UPS/FedEx. and it got there in two or 3 days too.
well...wow. and people think the USPS is running smoothly? socialist be trippin.
mczerone
03-02-2010, 03:28 PM
I saw that they were considering dropping Saturday delivery to try to manage budget.
My first reaction was that they should drop Monday through Friday too.
torchbearer
03-02-2010, 03:31 PM
payroll for USPS is retarded.
LOL
I think UPS and FedEx are turning profits...
Ill have to say I like the flat rate boxes though. I mail 15lbs in a small flat rate, a little over 5 bucks out the door. couldn't do that at UPS/FedEx. and it got there in two or 3 days too.
Imagine the profits if they had access to the first class delivery market. *que dream music*
torchbearer
03-02-2010, 03:36 PM
Imagine the profits if they had access to the first class delivery market. *que dream music*
it would cost a bit more than pocket change to send a letter.
i don't think they want first class mail. with emails and such, the markets isn't as big as it used to be.
TonySutton
03-02-2010, 03:42 PM
people should pick their mail up at the post office weekly or pay a fee to have it delivered
TheEvilDetector
03-02-2010, 04:17 PM
people should pick their mail up at the post office weekly or pay a fee to have it delivered
Stamp is supposed to be the delivery fee...
USPS is a failure because they have no fiscal discipline given that they are not subject to competitive pressures like normal businesses (if they did they would have reformed or closed a while ago).
USPS does what it likes, until the economy gets so bad that it starts to stink too much and people begin to take notice of these things more.
Texan4Life
03-02-2010, 04:31 PM
I can see it now in congress...
People have a RIGHT to mail!!!!
JoshLowry
03-02-2010, 04:34 PM
A quarter TRILLION dollars!?!?!?
@#()$*@#$@#
What the f*cking f*ck??
That's the losses projection if they do nothing until 2020.
Fox McCloud
03-02-2010, 04:35 PM
busting up the USPS union would help, but ultimately, mail delivery needs to be fully privatized.
Either way, abolishing the monopoly on 1st class delivery of mail would be the absolute best thing, but I have my doubts that it'll happen. :T
BenIsForRon
03-02-2010, 04:38 PM
I have no idea if this would work, but would it be a good idea if they just sold their assests to FedEx, UPS, DHL and so on?
tmosley
03-02-2010, 04:42 PM
The government shuts down local mail delivery businesses all the time. They are generally run by children. Imagine the government lemonade monopoly knocking on your door with your child in handcuffs, and you look across your lawn to see thugs tearing down her lemonade stand. This is how they treat anyone who violates their monopoly.
V4Vendetta
03-02-2010, 05:07 PM
HIP HIP hooray!!!!! Less money and people for the feds to open our mail, track our mail, and use the selective service!!!!!
Cowlesy
03-02-2010, 05:12 PM
That's the losses projection if they do nothing until 2020.
I know, but that is still a metric asston of money.
We need serious, serious pension reform. The idea of a defined benefit plan (pension) just doesn't work in the long run --- actuaries are simply just wrong in their calculations for solvency of these plans.
dannno
03-02-2010, 05:14 PM
Time to invest in those postage stamps that always retain the current value of postage stamps... if you believe the government will bail them out indefinitely..
KCIndy
03-02-2010, 05:27 PM
Time to invest in those postage stamps that always retain the current value of postage stamps... if you believe the government will bail them out indefinitely..
Took the words out of my mouth. If you send much snail mail at all, now's the time to grab those "forever" stamps... before they raise the price to a dollar apiece.
squarepusher
03-02-2010, 05:30 PM
I've heard some accounts for people who work @ the post office. There are 1 supervisor for every 2-3 employees. Once you get promoted to supervisor, you get a nice pay increase, and basically cannot be fired. The supervisor does hardly any work, and "directs" the lower employees all day. Basically, in the offices you sometimes have several supervisors doing no work, then the bottom employee slaving away like a peasant.
yeah, really messed up from what i heard from the 1st hand account of how it works there. Almost like those "teacher rubber rooms" they have where its just people sucking payroll away.
torchbearer
03-02-2010, 05:34 PM
I've heard some accounts for people who work @ the post office. There are 1 supervisor for every 2-3 employees. Once you get promoted to supervisor, you get a nice pay increase, and basically cannot be fired. The supervisor does hardly any work, and "directs" the lower employees all day. Basically, in the offices you sometimes have several supervisors doing no work, then the bottom employee slaving away like a peasant.
yeah, really messed up from what i heard from the 1st hand account of how it works there. Almost like those "teacher rubber rooms" they have where its just people sucking payroll away.
I worked at the post office as a "casual" employee during the UPS strike that happened years ago.
All the full timers were overpaid and did very little work. there was no incentive to work hard. it didn't matter what their production was, they had their job locked in place.
another big thing were employees trying to get on workman's comp all the time. i guess the post office has some big package for people who get hurt.
but really, how dangerous is it to sort mail?
HOLLYWOOD
03-02-2010, 05:41 PM
This has to be the "Cherry On The Sunday" that represents what's wrong with government:
The USPS, which is not permitted to lay off employees, is currently under a nationwide hiring freeze. It has eliminated jobs in the past by offering early retirement packages and through attrition. It cut a whopping 40,000 positions this way in fiscal 2009 alone.
USPS employees retiring early to protect their contract retirement pensions/benefits before they change. Those contracts and costs will be picked-up by the taxpayers, until USPS file bankruptcy and then, the obligations can be renegotiated.
Don't forget the taxpayers bailed-out the USPS this past fall for Billions.
Danke
03-02-2010, 05:49 PM
i guess the post office has some big package for people who get hurt.
but really, how dangerous is it to sort mail?
Paper cuts are painful. I wouldn't wish those on my worst enemies.
Toureg89
03-02-2010, 05:50 PM
wtf dont they just get rid of it?!
we already have FedEx, UPS, and any other number of successful, efficient mail providers...
Danke
03-02-2010, 06:03 PM
wtf dont they just get rid of it?!
we already have FedEx, UPS, and any other number of successful, efficient mail providers...
Ahh, those carriers don't deliver junk mail.
Fail.
revolutionisnow
03-02-2010, 06:38 PM
http://i45.tinypic.com/29qco46.jpg
YouTube - post office (http://www.youtube.com/watch?v=5XTi-WdOu2s)
parocks
03-02-2010, 08:01 PM
I bought a micro SD card reader from EBay. It was shipped from Hong Kong. It got to my house via the USPS. The total price, including shipping, for this product, was $0.18. That's 18 cents. Total. I have no idea how I got a product from half way around the world for less money than it costs to send a postcard across town. But I did.
Thrashertm
03-02-2010, 10:00 PM
LOL
I think UPS and FedEx are turning profits...
Ill have to say I like the flat rate boxes though. I mail 15lbs in a small flat rate, a little over 5 bucks out the door. couldn't do that at UPS/FedEx. and it got there in two or 3 days too.
That is because we are paying an extra $5 billion in taxes to subsidize that :)
Michael Landon
03-02-2010, 10:06 PM
That is because we are paying an extra $5 billion in taxes to subsidize that :)
Source?
paulitics
03-02-2010, 10:40 PM
LOL
I think UPS and FedEx are turning profits...
Ill have to say I like the flat rate boxes though. I mail 15lbs in a small flat rate, a little over 5 bucks out the door. couldn't do that at UPS/FedEx. and it got there in two or 3 days too.
So what .....my tax dollars are subsidizing USPS, but not the other guys. This makes the post office more expensive. The post office is bankrupt. They failed, and they need to raise their rates to compete, or get out of business. If they would get out of business, more private companies would exist and rates and service would be better all around.
paulitics
03-02-2010, 10:47 PM
I bought a micro SD card reader from EBay. It was shipped from Hong Kong. It got to my house via the USPS. The total price, including shipping, for this product, was $0.18. That's 18 cents. Total. I have no idea how I got a product from half way around the world for less money than it costs to send a postcard across town. But I did.
I don't know, but based on that it sounds like the US government is also suibsidizing Hong Kong for this transaction.
I wouldn't doubt it either, considering how determined the internationalists are in eliminating all competitiveness in America, and propping up China, India, etc.
Point is, whoever sent you that product still made a profit, and if it aint coming from your pocket, then it is coming from somewhere else.
Danke
03-02-2010, 10:48 PM
I bought a micro SD card reader from EBay. It was shipped from Hong Kong. It got to my house via the USPS. The total price, including shipping, for this product, was $0.18. That's 18 cents. Total. I have no idea how I got a product from half way around the world for less money than it costs to send a postcard across town. But I did.
Volume.
“We lose money on every sale - but we make it up in volume.”
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