Investing.com -- US Postmaster General Louis DeJoy has stepped down from his position, accelerating his previously announced departure. The move comes as the US Postal Service (USPS) is working on reducing financial losses and revamping its operations.
DeJoy informed the board of governors of the USPS that Monday was his final day at work, according to a statement he issued. Until a permanent replacement is appointed, Deputy Postmaster General Doug Tulino will assume the role of head of the agency.
In his statement, DeJoy highlighted that substantial work is still required to maintain the positive trajectory of the USPS. He confirmed that Tulino will lead the agency during the interim period until the board of governors appoints a permanent successor. The USPS has engaged a search firm to aid in finding a suitable candidate for the role, DeJoy added.
Over the past five years, DeJoy has led a significant restructuring effort at USPS. This includes reducing the projected cumulative losses over the next ten years to $80 billion, a significant decrease from the initial estimation of $160 billion. To achieve this, DeJoy implemented strategies similar to those used by the Musk-led Department of Government Efficiency team, such as reducing the number of employees and either canceling or renegotiating contracts.
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