USPS to eliminate 10,000 jobs after Musk deal
The U.S. Postal Service will cut 10,000 jobs in the next month through a voluntary early retirement program. This decision follows an agreement with Elon Musk's DOGE team to help address financial issues within the agency. Postmaster General Louis DeJoy stated that the USPS lost $9.5 billion last year and has faced ongoing challenges, including mismanagement and regulatory burdens. The agency has lost over $100 billion since 2007. DeJoy has been restructuring the USPS for five years, focusing on workforce reduction and contract renegotiations. The agency recently reported a fourth-quarter profit of $144 million, despite a significant decline in first-class mail volume.