The financially-troubled U.S. Postal Service plans to stop Saturday mail delivery this summer. In a news conference yesterday, Postmaster General Patrick Donahoe said the cutback of Saturday first-class mail deliveries will begin in August. He called it absolutely necessary and said it "makes common sense." Packages will still be delivered, Monday-thru-Saturday.
Donahoe noted that the cash-strapped Postal Service is losing nearly 16-billion dollars a year. The new plan is expected to save about two-billion dollars per year. Donahoe said the Postal Service must adapt to changes and create a more flexible business model as customers increasingly pay bills on-line. The taxpayer-subsidized U.S. Postal Service is more than 235 years old. A Senate hearing is scheduled next week to analyze USPS financial problems and operational makeovers.