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article imageUS Post Office to end Saturday mail delivery on Aug. 1

By Yukio Strachan     Feb 6, 2013 in Business
Beginning August 1, the United States Postal Service plans to end Saturday mail delivery in an effort to trim costs at the cash strapped agency.
In an announcement set for later Wednesday, the USPS is expected to say the cut would mean an annual cost saving of about $2 billion a year, a source familiar with the decision confirmed to Fox News.
As the Washington Post notes, this means that for the first time Americans will receive mail only five days a week, a significant shift for the storied mail agency and the citizens it serves.
USPS plans to continue Saturday delivery of packages for now, which remain a profitable and growing part of the delivery business. Post offices now open on Saturdays would remain open on Saturdays.
The use of email and the Internet has drastically cut the amount of mail the USPS delivers. Last month during an interview the USPS Post Master General said they are losing $25 million dollars a day.
According to ABC News, last September the service reported a record $15.9 billion loss for its fiscal year. For the first time last year the post office was forced to default on payments owed to its future retiree health benefits fund.
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