Monday, November 16, 2009
U.S. Postal Service Reports Loss
Despite a reduction of 40,000 employees and billions in cost-cutting measures, the U.S. Postal Service has reported a net loss of $3.8 billion for fiscal year 2009, about $1 billion more than in 2008. Postal officials say a shift to the Internet, as well as the recession, has caused the post office to face a decline in mail volume, creating one of the most challenging years in the history of the Postal Service. In an effort to help, Postmaster John Potter is seeking permission from Congress to reduce mail delivery from six days-a-week to five, while the agency is consolidating mail facilities, considering closing some offices and seeking new sources of income.
# posted by Homer Owens @ 9:07 PM 
