The U.S. Postal Service (USPS) has 630,000 employees and 34,000 locations. It bills itself as one of America’s largest employers, as if it were Walmart or Amazon. Frankly, it has tens of thousands of workers it does not need and should not have. The USPS is a product of late 20th-century mail and package delivery that currently loses money.
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In the most recently reported quarter, USPS revenue was $19.8 billion. Its net loss was $539 million. The room for improvement should come with a decision to have fewer employees and many fewer offices. It is hard to imagine why the number of locations is so large, particularly because so many are in very small towns, with populations sometimes only in the thousands.
This is the year of the layoff, both in the United states and in other developed countries. A coming recession (if it is not already here) has caused even the largest public corporations to cut staff. And many of these have billions of dollars on their balance sheets and could go through several years at current staffing levels.
However, these companies have decided to pursue margins at the cost of people. That is an unfortunate reality. The USPS needs to follow the lead of corporate America and cut staff before it piles up more losses.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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