Postal Service looks for new ways to cut losses

WASHINGTON – The U.S. Postal Service has already suggested dropping a day of mail delivery to save money. Now, with economic gloom everywhere, it’s turning to early retirements, management cutbacks and office closings. Not so long ago, the picture was far different. The USPS finished fiscal 2005 with a $1.4 billion surplus. Postal officials were already struggling with a sharp decline in first-class mail as letters and many bills moved to the Internet. Then the flagging economy devastated advertising mail, which had become the agency’s largest volume. At the same time, the number of delivery points — homes and offices where it must bring mail, was continuing to increase.advertisement | The…

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