Postal Service to Scrap Saturday Delivery to Save $2 Billion a Year

The U.S. Postal Service, plagued by chronic, massive losses, is set to cancel Saturday delivery — a move that will save some $2 billion annually.

The Washington Post reports the change, to be announced today at a news conference, will go into effect on August 1.

Package delivery — a money maker for the U.S.P.S. — will reportedly continue on Saturday.

The New York Times notes that Congress has resisted approving the end of Saturday delivery and it’s “unclear how the agency will be able to end the six-day delivery of mail without Congressional approval.”

The Postal Service loses about $36 million a day and is projected for annual losses of $21 billion by 2016.