USPS Reports $8.5 Billion Loss for Year
The U.S. Postal Service reported a net loss of $8.5 billion for the year ended Sept. 30, compared to $3.8 billion last year.
The USPS posted operating revenue of $67.1 billion for the year, a decrease from $68.1 billion in the prior year.
Also, the postal service reported total mail volume of 170.6 billion pieces for the year, a 3.5% decrease from, 176.7 billion pieces last year.
The postal service attributed these results to the ongoing recession and migration from mail to electronic media.
This report comes amid the Postal Regulatory Commission
