U.S. Postal Service Reports $1.6 Billion Second Quarter Loss

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The U.S. Postal Service, which has said it may lose $7 billion this year, narrowed its fiscal second quarter loss to $1.6 billion.

The net loss in the quarter ended March 31 shrank from $1.9 billion a year earlier, the agency said today in Washington.

Mail volume dropped 6.3 percent in the past six months, Chief Financial Officer Joseph Corbett said at the Postal Service’s board meeting. The Postal Service, which cut work hours 7.5 percent in the period, has asked Congress for permission to cut Saturday delivery to save money, a proposal being reviewed by the Postal Regulatory Commission.

Bloomberg http://www.businessweek.com/news/2010-05-06/u-s-postal-service-reports-1-6-billion-quarter-loss-update1-.html

2 thoughts on “U.S. Postal Service Reports $1.6 Billion Second Quarter Loss”

  1. Please don’t let them cut the service to our customers! Why would we want to cut our own throats and bite the hands that feeds us? Make cuts somewhere else like from HEADQUARTERS BUDGETS and PMG POTTERS PFP that he definitely DON’T DESERVE! Sell off some (90%) of the cars that upper management has. Why do they all need a company car anyway? All they have to do is use their own car and turn in a mileage voucher like the rest of us do. Stop paying for fancy Hotels and Dinners, whats wrong with fast food? Do they really have to do so much traveling? Can’t they do it by SKYPE or PHONE OR INTERNET? Just a thought what about using the US MAIL????? HA HA SERIOUSLY Don’t let PMG POTTER continue doing what he is doing at the expense of CRAFT EMPLOYEES who do ALL THE WORK!!! AND MORE IMPORTANLY NOT AT THE EXPENSE OF OUR GREAT SERVICE!!! LET IT BE @ HIS EXPENSE, FIRE HIM!!!! BELIEVE ME, MOST OF REGULAR CRAFT EMPLOYEES FEEL THIS WAY!

  2. Take a look @ the Leadership of the USPS or lack there of! And you will see what the REAL PROBLEM IS!!!! PMG POTTER!

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