U.S. Postal Service Says Labor Contract Would Save $3.8 Billion

The U.S. Postal Service, which has reported losses for five consecutive quarters, would save $3.8 billion over four and a half years under a labor agreement with one of its labor unions.

“We’re doing everything within our authority to put the Postal Service on a path to profitability,” Postmaster General Patrick Donahoe said today about a contract reached with the American Postal Workers Union. “Labor costs are forever reduced in this contract.”