USPS Warns of Major Changes to Post Offices and Mail Delivery
Summary
The U.S. Postal Service reported a $6.5 billion loss for the fiscal year, down from $9 billion the previous year, and warned that it may cut post offices and marketing mail service without congressional action. Postmaster General David Steiner said Congress could change retirement requirements or provide funding to address the shortfall; otherwise, the agency may need to make substantial service cuts.Key Facts
- USPS reported a $6.5 billion loss for the fiscal year, compared with a $9 billion loss the year before.
- Postmaster General David Steiner warned that USPS may reduce the number of post offices and the level of marketing mail service.
- Steiner said Congress could change retirement requirements that he says strain the agency or provide additional funding.
- USPS has reported about $120 billion in net losses since 2007, as first-class mail use declined with the shift to digital communication.
- USPS delivers to 170 million addresses six days a week, at an annual cost of $3.4 billion, according to Steiner.
- The article says 70 percent of USPS delivery routes and about 58 percent of its 18,000 post offices lose money.
- USPS has taken measures including a temporary price increase in April and a multiyear deal with DHL; the article says it is expected to remain solvent until at least 2031.
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