From PIWorld.com, as posted on Presort.com
WASHINGTON, DC-Deep and aggressive cost-cutting steps just aren't enough for the United States Postal Service (USPS) to survive as an ongoing entity, Postmaster General Patrick Donahoe told a congressional subcommittee on Wednesday. The USPS needs legislative assistance.
Donahoe testified before the Subcommittee on Federal Workforce, U.S. Postal Service and Labor Policy on Oversight and Government Reform. He noted that during the last two fiscal years, USPS reduced costs by roughly $9 billion and planned to take out another $2 billion in 2011. But Mr. ZIP still lost a "staggering" $8.5 billion in 2010, and is projecting to be in the red this year by $6.4 billion. Read more!
WASHINGTON, DC-Deep and aggressive cost-cutting steps just aren't enough for the United States Postal Service (USPS) to survive as an ongoing entity, Postmaster General Patrick Donahoe told a congressional subcommittee on Wednesday. The USPS needs legislative assistance.
Donahoe testified before the Subcommittee on Federal Workforce, U.S. Postal Service and Labor Policy on Oversight and Government Reform. He noted that during the last two fiscal years, USPS reduced costs by roughly $9 billion and planned to take out another $2 billion in 2011. But Mr. ZIP still lost a "staggering" $8.5 billion in 2010, and is projecting to be in the red this year by $6.4 billion. Read more!
