USPS to cut 10,000 jobs, seeks operational improvements

The U.S. Postal Service (USPS) has signed an agreement with the Department of Government Efficiency (DOGE) and the General Services Administration (GSA) to improve operations. This collaboration aims to address issues like retirement asset management and excessive workers' compensation costs. USPS plans to cut 10,000 jobs through a voluntary early retirement program in the next 30 days. This follows a reported net loss of $9.5 billion for fiscal 2024, an increase from the previous year. Postmaster General Louis DeJoy highlighted the need for fundamental changes to the USPS business model, which has faced significant financial losses. He announced plans to step down from his position last month.