Postal Service announces new closures

WASHINGTON, Jan. 24 (UPI) -- The U.S. Postal Service said Monday it would close 2,000 additional branches and stations in 2011, adding to the nearly 500 closures announced earlier.

Postal Service spokeswoman Joanne Veto said there were no post office closures planned, an office being larger than those designated as either a branch or a station, CNNMoney.com reported.

Veto said the Postal Service has locations with "fewer than five transactions a day."

A second spokeswoman, Sue Brennan said, "We have nearly 32,000 post offices and only 19 percent cover their costs."

The agency posted a net loss of $8.5 billion in its 2010 fiscal year, more than double the loss of $3.8 billion in its fiscal year for 2009. With the Internet taking away business in personal letters, advertising and bills sent in paper form the Postal Services delivered about 6 billion fewer pieces of mail in fiscal 2010 compared to the previous fiscal year.