Cut Saturday Mail Delivery, Usps Broke | featured news

The U.S. Postal Service lost $1.3 billion in the October to December quarter, an official said on Friday, days after the beleaguered mail agency announced plans to cut back on Saturday delivery to save money.

Netflix won't miss Saturday mail delivery, even though the weekend service helped keep the company's DVD-by-mail subscribers happy. The U.S. Postal Service's planned shift to five days of home delivery a week instead of six may even make Netflix Inc. slightly more profitable by lowering the costs for sending out its familiar red envelopes with DVDs. That's because subscribers may be able to watch fewer DVDs for the same monthly price.

The U.S. Postal   Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually, the financially struggling agency says.

The nearly bankrupt U.S. Postal Service is urging the House to quickly pass legislation to let it close low-revenue post offices and eliminate Saturday delivery.