The Washington Post reports:
The U.S. Postal Service is raising rates on letters, magazines and marketing missives as much as 6.9 percent this summer, sending the cost of a first-class stamp from 55 to 58 cents, as the agency leans into an expansive restructuring plan that codifies slower mail delivery and streamlines agency operations.
The rate structure announced Friday represents the latest installment of Postmaster General Louis DeJoy’s plan to erase a projected $160 billon in liabilities over the next decade.
DeJoy’s 10-year “Delivering for America” plan, announced in March, calls for longer delivery windows, shorter post office hours and fewer staff. The agency sent out “reduction in force,” or layoff, notices to hundreds of management-level employees Friday morning.
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Postal Service raises rates, sending the price of a first-class stamp to 58 cents https://t.co/xe6iMydwRm
— The Washington Post (@washingtonpost) May 28, 2021