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The financially strapped U.S. Postal Service is considering cutting as many as 120,000 jobs.
The U.S. Postal Service, which predicts a loss this year of as much as $9 billion, may seek to break union contracts so it can slash 220,000 jobs by 2015 and withdraw from federal health-benefit and retirement programs, according to draft proposals.
U.S. Postal Services shipping materials are displayed at the Bayview Station in San Francisco. The U.S. Postal Service is proposing to cut up to 120,000 jobs.
Seeking to reverse a rising tide of red ink, the Postal Service has proposed cutting 120,000 jobs and pulling its employees out of the health and retirement programs that cover federal workers to set up its own benefit systems.
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