U.S. Postal Service posts $1.9 bln quarterly loss

Discussion in 'The Latest USPS, Amazon, and DHL Headlines' started by cheryl, May 7, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    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.