The Post Office is downsizing and 25,000 employees are retiring early

The Post Office is downsizing and 25,000 employees are retiring early. A spokesman for the American Postal Workers Union (APWU) said on the 11th that in the face of the pressure of financial difficulties and the uncertainty of the future...

The Post Office is downsizing and 25,000 employees are retiring early. A spokesman for the American Postal Workers Union (APWU) said on the 11th that 25,500 employees of the United States Postal Service accepted early retirement plans in the face of the pressure of financial difficulties and uncertainty about the future. The Postal Service is the only federally operated postal service in the country. It has been plagued by financial crises in recent years. It has lost $15.9 billion this year and is facing the crisis of post office closure. Implementing an early retirement plan would allow the Post Office to reduce its headcount and maintain the ability to continue to be financially flexible. Nearly all postal employees are eligible for some form of retirement, and there is no limit on the number. For full-time employees who work long hours, the preferential retirement plan includes $15,000 in cash and early retirement benefits. Eligible half-time employees will have their benefits proportionally reduced. Full-time employees need to decide whether to accept it before the 3rd of this month, and part-time employees need to decide before January 4th. The preferential retirement plan will take effect on January 31, and employees can change their minds before the effective date. APWU said that 25,500 employees have chosen the preferential retirement plan, some of whom are eligible for early retirement, while the rest can retire normally. In an interview with the media last month, Postmaster General Donald Hoover explained the financial difficulties facing the post office and called on Congress to pass the post office reform law before the end of the year. "The post office is facing its own financial cliff. People are now paying their bills online. We have lost 25% of our business in the past five years. The law also stipulates that the post office must set aside retirement health insurance funds in advance for employees who have not yet retired, which costs 5.5 billion yuan per year. If the financial burden is reduced, the post office will have the funds to pay." However, the federal government and Congress have yet to reach an agreement on the fiscal cliff issue, and the chances of Congress passing the post office reform law before the end of the year are slim.