The U.S. Postal Service announced it plans cuts that are expected to slow first-class mail delivery, which could eliminate the chance for stamped letters to arrive at a destination the next day.

The U.S.P.S is expected to release details on an expected $3 billion in reductions on Monday, as part of a wide-ranging effort to quickly trim costs.

The changes could push more business onto the Internet, as the cuts may slow check payments, DVDs-by-mail, and mail-order prescription drugs, as well as newspapers and magazines.

An Associated Press article printed in The New York Times earlier this year labeled the U.S. Postal Service as a money-losing business.

The article said that in 2010 the postal service spent $75 billion, but only took in $67 billion.

A total of 252 out of 487 mail processing facilities are being reviewed for possible closure nationwide, along with 3,700 local post offices.

Comments: Do you think we still need the U.S. Postal Service?