Post office offering early out, cutting managers

March 20, 2009 2:23:25 PM PDT
The Postal Service says it will offer early retirement to 150,000 workers, cut management staff and close six district offices. [SIGN UP: Get headlines and breaking news sent to you]

The agency has been battered by shrinking mail volume and rising costs. It lost $2.8 billion last year and is headed toward larger losses this year despite a planned rate increase in May.

Officials said the post office will eliminate some 1,400 management and supervisor posts across the country. It's offering 150,000 workers early retirement.

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