DeJoy says USPS network needs ‘major’ overhaul. But union, senators wary of impact

Postmaster General Louis DeJoy is warning the Postal Service could run out of cash within the coming years, if it doesn’t keep up with a “major transformation” in the way it operates.

DeJoy, speaking at the Concordia U.S. Summit last month in Cary, North Carolina, said USPS will need to make the transition from “a high percent of its revenue being from its mail monopoly, to one that [needs] to compete with formidable competitors in the package delivery and retail business.”

He said institutional resistance to change within USPS, from its regulator or Congress, will lead to the agency meeting the same fate as the video rental company Blockbuster, or a long list of other businesses that failed to adapt to changing demands.