U.S. Postal Service posts $1.9 bln quarterly loss - Reuters
The U.S. Postal Service reported a quarterly net loss of $1.9 billion on Wednesday, hurt by the recession which caused the largest drop in mail volume in nearly 40 years.
The agency has posted net losses in 10 of the last 11quarters. It warned on Wednesday that if current trends continue it could face a year-end cash shortfall of more than $1.5 billion despite aggressive actions to cut costs.
The U.S. Postal Service reported a quarterly net loss of $1.9 billion on Wednesday, hurt by the recession which caused the largest drop in mail volume in nearly 40 years.
The agency has posted net losses in 10 of the last 11quarters. It warned on Wednesday that if current trends continue it could face a year-end cash shortfall of more than $1.5 billion despite aggressive actions to cut costs.
