Post Office to Cut Services, Jobs

U.S. Postal Service faces $14 billion deficit.
3:03 | 12/05/11

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Transcript for Post Office to Cut Services, Jobs
You all know the motto neither rain nor sleet nor snow will stop the mail but today a threat even the most determined letter carrier cannot overcome. Bankruptcy. That threat is forcing the US Postal Service to make massive layoffs. 35000. By march 2012. And that's not all. Massive cutbacks are coming services will be restricted in -- sure to be felt by all of us especially when you consider this. Each day Americans send 563. Million letters and packages that's almost two pieces of mail every day for every one of us. So tonight we tackle the questions in the post office -- -- should it. And what is the shake up mean for America's economy and you. ABC -- -- -- starts us off from one of the biggest post offices that will shrink its near Penn Station in Manhattan good evening Karen. Good evening -- and make no mistake about it these are big cuts that are going to affect every home across the country. Even here at the main post office in New York City they're saying it's gonna take -- longer for every letter to go door to door. They braved rain sleet and snow and now the US Postal Service is trying to whether it's darkest days. Facing a fourteen billion dollar deficit next year they've announced sweeping cuts to avoid bankruptcy. This spring -- -- more than half of the country's mail processing centers eliminating some 35000. Jobs. Those consolidations will link in the distance mail has to travel. Instead -- taking the normal one to three days first class mail could now take two to three days of my time -- the end. To get -- I get paid through the mail. Let me my check will be delayed next and the delay could be even worse for businesses that rely on speedy delivery. Experts say small businesses will be heard -- merchandise and payments spend more time in transit. Mail order pharmacy costs would increase and a possible nine day delivery time could put an end to the weekly magazine. And more changes could be ahead the Postal Service wants to cut delivery from six days a week to five days cut pensions and close another 3700 post offices across the country. We take -- tax money so we live on -- revenues that we bring in. And as the revenues stood out like any other this year be responsible make tanks. But any change would need congressional approval first and in an election year it's unlikely congress would act on anything seen as promoting layoffs. So take to avoid layoffs and keep surfaced -- -- We did the math it turns out you could erase the projected fourteen billion dollar deficit. By raising the cost of the stamp just eighteen cents to 63 cents. Compare that to eight dollars it would cost to send a letter across the country via FedEx. More than nineteen dollars to send the same letter today -- by UPS. And again you don't have to worry about your holiday cards your holiday packages -- season changes don't take effect. Until March but expect another round of changes. Probably as early as some --

This transcript has been automatically generated and may not be 100% accurate.

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