Post Office Cutting Locations to Close Deficit
One of the country's largest commercial real estate tenants is considering a plan to close about 2,000 of its branches. The United States Postal Service (USPS) hopes that the closures will help it reduce the $9 billion annual deficit of its operating costs.
The proposed new closures are in addition to its existing proposal to close about 491 locations. USPS will begin to examine another 16,000 branches—roughly half of its operating units—in March 2011.