USPS Offers Buyouts to 30,000 Employees
The U.S. Postal Service is offering up to 30,000 employees the option of retiring or resigning before the end of the fiscal year Sept. 30.
The USPS said it hopes this move will save it up to $500 million next year.
Those employees all belong to the American Postal Workers Union (APWU) or the National Postal Mail Handlers Union (NPMHU).
The incentive provides eligible employees $10,000 to be paid during the first three months of Fiscal Year 2010 (which begins Oct. 1), creating salary and benefit savings for the next nine months. The same employees will receive a second payment of $5,000 the next year.
The majority of employees eligible for this plan work in mail processing facilities, according to the USPS.
Because the number of addresses grows by 1.5 million each year, letter carriers represented by the National Association of Letter Carriers and the National Rural Letter Carriers
