Wednesday, August 5, 2009

Gulp -- Postal Service loses $2.4 billion last quarter

Normally, I like to keep things positive around here, but sometimes, you gotta step up to the truth.

The U.S. Postal Service ended its third quarter (April 1 – June 30) with a net loss of $2.4 billion. That brings the yearly loss to $4.7 billion so far. Total losses this year could top $7 billion.

The good news is that we have reduced our expenditures by nearly $6 billion. Without those cuts, the loss would be gi-normous!

What do you think about all of this?


Anonymous said...

the USPS could save additional money by changing the guidelines on forwarding mail. Currently the USPS forwards first class mail for 12 months and provides the return information to the sender for 6 months. This is a total of 18 months. The postal service could save money on changing the guidelines on forwarding mail. A suggestion would be forward for 3 months, provide the sender with the new address information for the next three months. Senders should be required to have endorsements on all mail pieces.

Anonymous said...

I am so tired of hearing how much we are losing! We are being hit over the head with it. Yes, I know it is reality, I see it every day at my office.