USPS to cease Saturday mail delivery

The US Postal Service says it plans to stop delivering mail on Saturdays, but they'll continue delivering packages six days a week.

In an announcement set for later Wednesday, the USPS is expected to say the cut, due to begin in August, would mean an annual cost saving of about $2 billion a year.{}

The delivery of letters and other mail has declined with the increasing use of email and the Internet.

Last September the service reported a record $15.9 billion loss for its fiscal year. For the first time last year the post office was forced to default on payments owed to its future retiree health benefits fund.