"The suspension of payments, which will save about $800 million this fiscal year, takes effect on Friday. USPS sends $115 million to OPM every other week for the FERS annuity.
Suspending the FERS payments is part of the Postal Service’s cash conservation plan. USPS is projected to lose $8.3 billion by the close of its fiscal year at the end of September.
“The Postal Service continues to cut costs significantly with initiatives to reduce the size of its labor force, the number of mail processing facilities and administrative overhead,” according to a statement from USPS.“Over the last four fiscal years, the Postal Service has reduced its size by 110,000 career positions and saved $12 billion in costs”.............LINK
No comments:
Post a Comment