The American Postal Workers Union (AWPU), on behalf of USPS workers, organized pickets and rallies outside of 50 Staples stores across 27 states as part of what it calls its National Day of Action to Stop Staples.
The union argues not only that the deal threatens jobs with the risk of privatization of the flagging postal service, but also that the deal does consumers a disservice as lower-paid retail workers will be responsible for mail.
In a statement, APWU president Mark Dimondstein said, "The American people have a right to know that their mail is handled by highly-trained uniformed postal employees who have taken an oath to protect the sanctity of the mail."
Staples has yet to issue a formal response.
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TheStreet Ratings team rates STAPLES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate STAPLES INC (SPLS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself."