Even With $25 Billion In The Bank, DeJoy Raises First-Class Stamp To 58 Cents, Announces USPS Layoffs

May 28, 2021

Even though the U.S. Postal Service has $25 billion in liquid assets and is enjoying a resurgence of its core business as the nation emerges from pandemic lockdown, Postmaster General Louis DeJoy announced Friday afternoon the price of a first-class stamp is going up from 55 cents to 58 cents and an unknown number of managers will be laid off.
The 6.9 percent increase for mailing letters, magazines and marketing materials will go into effect this summer. The move is part of the Trump appointee’s 10-year “Delivering for America” plan in which he declared his intention to make slower mail delivery the new standard and reduce hours and staff.
Tags
What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0