United States Post Office to Lay Off 220K

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This is Gonna Be REALLY NUTS!!!!

http://www.reuters.com/article/2011/...77B4S720110812

The U.S. Postal Service would 
eliminate about 220,000 full-time jobs and 
shutter about 300 processing facilities by 
2015 under a proposal to bring its finances 
in order, a postal official said on Friday.
...
The Postal Service could lay off as many 
as 120,000 workers by 2015, and not fill 
another 100,000 expected to open up through 
staff departures.
...
The Postal Service needs to cut payrolls to 
about 425,000 employees and take over its 
retirement and health benefits instead of 
participating in federal programs, Postmaster 
General Patrick told Reuters.
...
The agency reported a $3.1 billion net loss 
in its most recent quarter. It expects to be 
insolvent next month and default on a $5.5 
billion retiree health payment.

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