Postal Service Considers Cutting 120,000 Jobs

Postal Service
Postal Service

By Randolph E. Schmid

WASHINGTON -- The financially strapped U.S. Postal Service is considering cutting as many as 120,000 jobs.

Facing a second year of losses totaling $8 billion or more, the agency also wants to pull its workers out of the retirement and health benefits plans covering federal workers and set up its own benefit systems.