2300+ Post Offices to Close in 2011-2012

The following is an excerpt for the latest Kiplinger Letter:

More than 2,300 U.S. post offices will close their doors in 2011 and 2012. The financially stressed U.S. Postal Service will close offices with expiring leases or high-maintenance issues, using authority that the service already has. In addition 16,000 local post offices (roughly half the nation's total), will be reviewed for closure as a cost-cutting measure. 

Faced with a $20-billion net loss over the past four years, USPS wants Congress to approve elimination of the service's least profitable branches. But despite budget woes, that's still a long shot - no member of Congress wants to lose a post office at home.

In other cost-saving measures, Saturday delivery will probably go in 2012.

The USPS has been working on bringing in new business: It's expanding a pilot project that teams them with UPS. The partnership allows consumers returning parcels via UPS to drop these packages at local post offices or in mailboxes. UPS picks them up at the post office and completes the return. Also, a greater partnership with eBay will double their current business with the online company.

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