Post office offering early out, cutting managers

WASHINGTON (AP) - The Postal Service says it will offer early retirement to 150,000 workers, cut management staff and close six district offices.

The agency has been battered by shrinking mail volume and rising costs. It lost $2.8 billion last year and is headed toward larger losses this year despite a planned rate increase in May.

Officials said the post office will eliminate some 1,400 management and supervisor posts across the country. It's offering 150,000 workers early retirement.