complete shutdown this winter.
unless congress steps in.
the postal service turned 200
years old in july.
the conventional mail use has
dropped precipitously in
recent years.
volume is down 22% from just
five years ago.
a decline which is expected to
continue.
driven in part by stiff
competition from carriers such
as fed-ex and u.p.s.
that's left the agency facing
losses of more than $8 billion
for the second year in a row.
post master general patrick
donahoe has responded with a
series of cost-cutting
proposals.
among them, eliminating
saturday delivery.
and closing up to 3700 local
post offices, most of them in
small towns.
replacing them with automated
centers operating out of local
businesses.
donahoe has also proposed
laying off as many as 120,000
workers, nearly one fifth of
the agency's work force and
pulling workers out of more
expensive federal pension
plans.
pre-funding retiree benefits