NEW YORK (WPIX)—The U.S. Postal Service is expected to announce Monday an estimated $3 billion in cuts to keep it from falling into bankruptcy. The postal service is facing a projected budget deficit of $14.1 billion.
One of those cuts would be the removal of first-class next day delivery, which would mean nearly half of all first-class mail would arrive three days after it is sent.
The postal service said over the past five years, there has been a huge drop in first-class mail, which is the bulk of the agency's revenue.
Also, half of the 500 mail processing plants across the United States could close, which means roughly 100,000 jobs across the country could be lost.
The changes are expected to go into effect in March, so they're not expected to have an impact on holiday cards and gifts.