X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The word “change” and the post office are not often linked, but that, in fact, is the assignment of the newly installed CFO of the U.S. Postal Service. H. Glen Walker must deliver change–and turning around the government-owned enterprise, charged with delivering 40% of the world’s mail, will be no small task. But the Internet and other brand-name delivery services are eroding its first-class, high-margin business, and it must change or shrink.

The biggest challenge facing the soft-spoken Walker is reining in labor costs from a 676,000-person unionized workforce. Some spadework was done for him with the commitment of $5 billion over the past few years to automate processes. Now, he must realize the return on this investment by cutting an almost unimaginable 40 million work hours for a savings of $1.1 billion in 2007. But, admits Walker, “We are constrained by the types of agreements that we’ve negotiated in the past.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.