USPS seeks 30,000 job reductions

       The US Postal Service,the country's second-largest employer,offered buyouts on Tuesday to quickly slash up to 30,000 jobs as it grapples with declining mail volume and embraces more automation.
       The incentive for voluntary resignations and early retirements among a pool of veteran workers by the end of September "is part of a drive to cut costs by $6 billion this fiscal year," the Postal Service said.
       "This decision reflects our desire to provide a fair and equitable opportunity for some of our longest-serving employees," said Anthony Vegliante, chief human resources officer and executive vice president.
       "It is important to the Postal Service that we take appropriate measures to address our current financial situation,"he added.
       The majority of those offered $15,000 to leave as part of an agreement with unions - up to 30,000 people - work in mail processing facilities. The Postal Service hopes to save up to $500 million from the move.
       The job cut target is similar in scope to employment reductions by US automakers and certain banks, and comes amid signs that the recession may have bottomed out.
       The Postal Service, which is a quasigovernment agency that relies on postage sales and revenue from other products and services to fund operations, reported a $2.4 billion loss in the quarter ended June 30.
       The agency has wracked up net losses in 11 of the past 12 fiscal quarters.
       Traditional mail volume has been fallen sharply as e-mail has proliferated along with online services such as electronic bill payment, officials have said.
       The Postal Service has 656,000 career employees, second behind Wal-Mart Stores Inc which has more than 1.4 million workers in the United States.
       Other cost cuts this year have included decisions to close facilities, pare construction, a nationwide hiring freeze,and selling underutilised and unused facilities.
       The Postal Service also competes with US package delivery giants UPS Inc and FedEx Corp for some services as well as other companies.