Knowledge@Wharton--The United States Postal Service (USPS) is in dire financial straits -- and the solution will involve painful restructuring. The reason: Like many large, once successful organizations, the USPS failed to adapt to sweeping technological changes that have altered how Americans do everything from paying bills to communicating with friends and family. With the USPS facing a possible cash crunch this fall, the service is scrambling to cut costs, and legislators in Washington, D.C., are debating a new law that would transform the organization. The question now is whether the overhaul of the postal service will position it to survive in the decades ahead, or whether instead it will continue on its current path to irrelevance. Read more!
