So far, more than 20,000 U.S. Postal Service employees have signed up for the agency’s latest early-out offer, a USPS spokesman said this week.

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The offer, unveiled early last month, combines a $15,000 buyout with an early retirement package for longer-serving workers, the Federal Times reported.

The deal is open to almost all of the 187,700 clerks, mechanics and other career employees represented by the American Postal Workers Union. Part-time employees are eligible for a prorated share of the buyout.

The Postal Service is suffering massive losses and cutting services.

Seventy percent of the 2012 loss — $11.1 billion — stemmed from two large payments to prefund future retirees’ health benefits, a requirement created in 2005 by Congress.

For the complete Federal Times report, click HERE.