The U.S. Postal Service said Tuesday it plans to cut up to 20,000 jobs this year, citing disappointing financial figures for the first quarter of the 2002 fiscal year. The cuts come on top of 11,600 positions cut last year when the postal service lost $1.7 billion for the fiscal year ended Sept. 30, 2001
Read MoreThe U.S. Postal Service has reached agreements with many of its major customers on a plan to raise postal rates June 30, three months earlier than projected, bringing a swifter infusion of money to the financially struggling agency.
Read MoreGAO slams USPS over e-Commerce projects (Page 4)
Read MoreThe U.S. Postal Service is near an agreement with FedEx Corp. that would increase the amount of Priority Mail transported on FedEx planes.
Read MoreThe U.S. Postal Service has selected trucking giant Consolidated Freightways (Nasdaq:CFWY) to manage all USPS non-mail LTL freight delivery in the continental U.S.
The contract comes with options that allow the USPS to extend the partnership through February 2012, with a value of at least $9 million per year. The decision condenses the USPS LTL freight network from 20 national, regional, and local carriers to just one transportation provider.
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