The Postal Service started being partially privatized forty.or so years ago. Ranked by sales, the United States Postal Service (USPS) is the eighth-largest American corporation. The Pros and Cons of Privatizing Government Functions Outsourcing may seem like a perfect solution for deficit-plagued governments, but the morning after can bring some unpleasant surprises. For most of the country’s history, USPS … He argued that privatization would lead to "higher postal rates," slower deliveries and "low paid workers who get few benefits." The over 900,000 men and women who work for USPS produce more than $60 billion in revenue and deliver over 200 billion pieces of mail annually2[2]. But with the rise of electronic communications, mail volume has plunged, and the 600,000-worker USPS has been losing billions of dollars a year. These dedicated employees work Privatisation is often achieved through listing the new private company on the stock market. In the 1980s and 1990s, the UK privatised many previously state-owned industries such as BP, BT, British Airways, electricity companies, gas companies and rail network. The importance of postal privatization is written in the Postal Service’s roller‐ coaster record of quality crises followed by improvement followed by more crises. The United States Postal Service shipped more than 13 billion pieces of mail and packages this holiday season. There are several other theoretical benefits of privatisation. No other private company or federal agency has to pre-fund retirement health care benefits. Arguments for and against privatisation. Potential benefits of privatisation. Indeed, the business secretary at the time, Vince Cable, believed that full privatisation was the only way to make the Royal Mail a sustainable business, pointing to the already successful privatisation of postal services in Germany in 1994, and Austria in 1999. Ranked by employees, the USPS is second only to Wal-Mart1[1]. Postal workers in Carlsbad, Calif., in 2013 (Mike Blake/Reuters) The Postal Service is in dire financial straits. The USPS is a major business enterprise operated by the federal government. U.S. In 2006, Congress required the Postal Service — known as USPS for short — to “pre-fund” 75 years of its retirees’ health benefits. This added $5.7 billion to its costs last year. Postal Service. What they have been doing is to gradually farm out more and more core functions to the private sector. ... impeached Trump would have to approve the elimination of a couple hundred thousand union jobs with decent wages and benefits in every state and every House district in the country. Although there is not a stated governmental effort to privatize the United States Postal Service, some lawmakers in the U.S.—including Trump—have previously suggested that privatization … Today the United States Postal Service (USPS) is the third-biggest employer in America, behind Walmart and the Defence Department. Revenues from the sale of USPS products are supposed to cover the company's costs. 1.