The U.S. Postal Service has long struggled with its finances. President Trump and Mr. Musk have both suggested it should be privatized.

The U.S. Postal Service just delivered one of the biggest developments so far of President Donald Trump's young second term in office. In a letter to the leaders of Congress on Thursday, Postmaster General Louis DeJoy announced plans to trim the agency's huge workforce and work with the Trump administration's Department of Government Efficiency to streamline the mail service's spending to save billions of dollars.

The head of the US Postal Service has signed an agreement with Elon Musk’s Department of Government Efficiency, or DOGE, to reform the sprawling agency, according to a letter to Congressional leaders viewed by Bloomberg.