US Postal Service records $384 mln loss in 1st quarter

Discussion in 'The Latest USPS, Amazon, and DHL Headlines' started by cheryl, Feb 9, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    US Postal Service records $384 mln loss in 1st quarter - Reuters

    The U.S. Postal Service reported a $384 million net loss for the first quarter ended Dec. 31 due to plummeting mail volume brought on by a lingering recession, and warned that if current trends continue it may post a larger loss in fiscal 2009 than 2008.

    Mail volume dropped at an increased rate for the eighth consecutive quarter, falling 9.3 percent from a year ago.
     
  2. backinbrown

    backinbrown respect my authority

    I would imagine part off loss is due to more people paying bills automatically on line.