The Postal Service ended the second quarter of fiscal year 2011 (Jan. 1 to March 31) with a net loss of $2.2 billion, compared to a net loss of $1.6 billion for the same period last year.
A looming issue is the Sept. 30 $5.5 billion payment to the federal government, prefunding future retirees' health care. PMG Pat Donahoe has said "USPS will be forced to default," absent any legistlative changes.
“We are committed to working with Congress and the administration to resolve these issues prior to the end of the fiscal year,” he said.
Mailing Services revenue of $14 billion decreased $568 million, or 3.9 percent, in the second quarter of 2011, compared to the same period a year ago. Mailing Services volume of 40.7 billion represents a 3.1 percent decline from the same period a year earlier.
Shipping Services revenue of $2.2 billion increased 5 percent or $105 million compared to the same period a year ago. Shipping Services volume of 352 million pieces represented a 3.5 percent increase compared to the same period a year earlier.
The USPS second quarter financial news release and a copy of the second quarter financial results are available on the Postal Service website usps.com.
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9 comments:
I think it is time to consider reducing more management layers. The current structure does not work and adds to the overhead costs.
As a postmaster in a smaller community, I would be willing to take a VERA, with or without the incentives.
The postal service needs to conduct cost benefit analyses on ALL current programs as a cost cutting measure. BEFORE it rolls out any new programs, review the actual costs with the actual benefit. Many programs costs millions and returns little or no profit, or the benefit from such programs don’t justify the costs. For example, let’s look at the VOE process. By the time you consider all the costs…does the benefit the post office receives exceed the costs? More then likely, it does not. There are so many programs like this that need reviewed: Pay stubs, postal bulletins, area news letters, CMPS, SPMS, hard copy financial records, and many other redundant audits we conduct each month.
Pay stubs is another area where they could save money. They process nearly 500,000 pay stubs every two weeks. Time and money spent printing and mailing them out. That’s 500,000 mail pieces that we process that generate no revenue to cover the processing costs. My spouse worked for a company that employed over 500 employees. It switched over to online paystubs and saved huge dollars. The company saved postage (which hurts us), printing costs, envelopes, and man hours from stuffing and mailing them. For customers without home computers, they could come in AFTER their shift and have HR print the pay stubs. The first pay day, nearly 50 people showed up and waited nearly an hour to get their pay stub. The next pay day that number dropped by half and it kept dropping until only 4-5 still picked them up.
While there is value in the SPMS and CPMS scans, why is it necessary to print these reports?
Each of these requires a log-in to view, why not just have a review mandatory and contact the Individual offices when problems arise?
We are printing numerous reports and placards as part of our every day duties. The cost of printers, paper, and ink must be great for an organization our size.
Why don't we get rid of the MPOO position? There are 10 in our district. That would save a few million.
We already waist paper printing unnecessary reports that no one but the PM/OIC even looks at. Now we are adding bulletin boards and more waisted paper.
I think they need to look into the people that are on workmens comp and retire them if they are over the age of 65.That is ridiculous.And if the OIC from an office wants the postmater job in that office they should let them have it.They should offer the early out incentive to everyone.
i would take a VERA without the incentive also.I am an OIC in a 6-hour office.The office I was at is getting consolidated.If I apply for this job and don't get it, then I have no job.Why post a job when someone is already there doing the job.Must be an easy way for the postal service not to pay retirement
They need to let go of POOMS.There are too many.They should offer the early out or vera . I would take it.Pooms trying to get rid of postmasters so they cn put there friends in is not a good thing.Offer vera
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