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U.S. Postal Service Slashes More Jobs

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May 18, 2009 11:30 am US/Central

U.S. Postal Service Slashes More Jobs

Agency Slashes 25,000 Jobs

 CBS News Interactive: Eye On The Economy
WASHINGTON (AP) ― The U.S. Postal Service has slashed 25,000 jobs this year as it struggles to reduce a massive budget deficit.

Postmaster General John Potter said Monday that agency employment is below 635,000, down from about 800,000 in 1999.

Thousands of carrier routes have also been eliminated as mail volume declines.

Potter said the service has an infrastructure that it can't afford based on finances. The service is facing a potential deficit of $6.5 billion this fiscal year.

He stressed that the main problem is the weak economy and the post office is "anxiously awaiting a turnaround."

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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