U.S. Postal Service posts loss, 4th straight year - Reuters
The U.S. Postal Service reported a net loss of $8.5 billion for the most recent fiscal year as mail volume continued to decline, forcing the agency to find ways to overhaul its business.
The Postal Service has been trying to dramatically reform its business practices for years as increasing popularity of email, competition from FedEx, United Parcel Service and other delivery services, and the recent economic downturn hurt volumes.
This is the fourth straight year the agency has posted net losses despite cost-cutting measures and staff reductions.
The U.S. Postal Service reported a net loss of $8.5 billion for the most recent fiscal year as mail volume continued to decline, forcing the agency to find ways to overhaul its business.
The Postal Service has been trying to dramatically reform its business practices for years as increasing popularity of email, competition from FedEx, United Parcel Service and other delivery services, and the recent economic downturn hurt volumes.
This is the fourth straight year the agency has posted net losses despite cost-cutting measures and staff reductions.
