Photo: USPS Lance Armstrong Sponsorship
Effective August 5, 2013 the U.S. Postal Service (USPS) will stop its Saturday delivery of letters and other first-class mail in a bid to save $2 billion dollars annually.
The U.S. Postal Service also known by some as the snail mail carrier has been experiencing operational losses for sometime. In 2012 they reported a $16 billion dollar loss. In addition it defaulted on loans to its main lender – the U.S. government – to the tune of $11 billion.
The USPS’ package delivery service will not be impacted and will continue without disruption. The Saturday cutback will result in a loss of some 22,000 jobs. USPS management has been making cost cutting measures for several years, this is the most significant expense cut to date.
Under the proposed plan, mail would still be delivered to post office boxes on Saturdays and Post offices now open on Saturdays would remain open on Saturdays.
No one is sure if USPS will politely ask Lance Armstrong to help out by returning the $32 million it spent on sponsoring his cycling team, Tailwind, from 2001-2004.