Journal of Commerce--The U.S. Postal Service estimates it lost about $6 billion in its 2010 fiscal year, raising the pressure for greater cost-cutting after lawmakers and regulators failed to bring needed relief to the USPS's beleaguered finances.
Postmaster General John Potter said the projected loss for the 12 months that ended Sept. 30 was better than the $7 billion loss the USPS had projected earlier. But it came with a decline of 7 billion pieces in mail volume, part of a structural shift in delivery the postal service is struggling to respond to with cost cuts and operational changes. Read more!
Postmaster General John Potter said the projected loss for the 12 months that ended Sept. 30 was better than the $7 billion loss the USPS had projected earlier. But it came with a decline of 7 billion pieces in mail volume, part of a structural shift in delivery the postal service is struggling to respond to with cost cuts and operational changes. Read more!
