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AUG. 25, 2009

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KEEPING POSTED SPOTLIGHT ON SUCCESS INFO@USPS

SPECIAL EDITION

POSTAL SERVICE CONTINUES COST-CUTTING ACTIONS

NEGOTIATED INCENTIVE PLAN DESIGNED TO SAVE $500 MILLION

In a decision to save hundreds of millions of dollars in labor-related costs, the Postal Service negotiated an agreement with two of its employee unions to offer select employees a financial incentive to retire or resign before the end of the fiscal year.

The one-time offer is a strategic move to accelerate targeted staffing reductions for employees represented by either the American Postal Workers Union or the National Postal Mail Handlers Union.

Advances in mail processing technology and the continuing recession have led the Postal Service to more aggressively match work hours with work load. The majority of employees eligible for the incentive work in mail processing facilities.

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’ Association were not extended this offer.

The incentive provides eligible employees $10,000 to be paid during the first three months of fiscal year 2010, creating salary and benefit savings for the next nine months. The same employees will receive a second payment of $5,000 in fiscal year 2011.

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