Postmaster General: $20 Billion Cuts Are Necessary by 2015

By Maureen Mespell

November 21, 2011 Updated Nov 21, 2011 at 7:16 PM EDT

(Indiana's NewsCenter) -- The U.S. Postal Service has lost 8 billion dollars so far this year.

Monday the Postmaster General said the service needs the ability to act more like a business to survive.

Postmaster General Pat Donahoe says measures like closing retail post offices and cutting saturday delivery are necessary to slash operating costs.

He also suggested changes to employee's health and retirement benefits.

Donahoe pushed Congress to pass legislation that would restructure the postal service as soon possible, saying 20 billion dollars in cuts are necessary by 2015.

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