U.S. POSTAL SERVICE TO CUT COSTS

US Postal Service to cut costs
September 2006 — Washington (DC): The US Postal Service is to cut costs by $1.1 billion in fiscal 2007.
The
cost reduction contains a planned decrease of 40 million work hours
from the “estimated fiscal 2006 level”, the service said in a
statement.The service’s board of directors said that it will maintain
its deliveries by improving automation and other productivity
initiatives.The board expects a net annual deficit of $1.6 billion in
fiscal 2007.