In Business This Week
MORE DOWNSIZING AT THE POST OFFICE
The U. S. Postal Service is about to undergo some big-league belt-tightening. Postmaster General Anthony Frank plans to announce shortly that he wants the Postal Service's 700,000-strong work force to shrink by 47,000 by 1995.
The cuts, which will save an estimated $4.5 billion annually, come on top of the loss of 37,000 slots since 1989. Frank expects that attrition will account for most of the job losses. But, he says, layoffs may be necessary if mail volume doesn't pick up. It shows no signs of doing so.
The postal unions say they can accept cuts through attrition, but pink slips are another matter. If workers lose their jobs, the Postal Service "will have an awfully bloody fight on their hands," warns Vincent Sombrotto, president of the National Association of Letter Carriers.EDITED BY SUNITA WADEKAR BHARGAVA