16,000 Postal Employees Lack Years Required for Protection Against Layoffs USPS’ Bleak Financial Picture And the Presidential Election Postmaster General John E. Potter informed the unions and the Postal Regulatory Commission this month that the Postal Service has experienced a 12 percent reduction in mail volume and that in Fiscal Year 2008 (ending Sept. 30), […]
Press Release from U.S. Postal Service Board of Governors Told Customer Service Remains Top Priority WASHINGTON, DC — As the current economic climate continues to contribute to a decrease in mail volume, and with no reversal in the trend in sight, the Postal Service reported today it expects to end the current fiscal year with […]
From ABC News The United States Postal Service will announce a $2.5 billion dollar yearly loss tomorrow, ABCNews.com has learned. But postal officials say it is unlikely to result in any increase in the cost of mailing a first class letter. The price of a first-class stamp was raised one cent in May of this […]
From National Association of Postal Supervisors (NAPS): Postmaster General, Jack Potter met today with the leadership of the three management associations and craft unions representing all craft employees and EAS employees of the Postal Service. The meeting was scheduled to brief the leadership of the employee organizations on the current situation in the Postal Service […]
USPS reports nearly $1 Billion lost for August 2008 Accordng to the National Associationof Postal Supervisors (NAPS) Legislative Update Postmaster General Jack Potter, in his address at the NAPS convention last week, reported that the Postal Service will lose more than $2 billion by the approaching end of the USPS fiscal year. “We are struggling,” […]
WASHINGTON, DC — The U.S. Postal Service ended its third fiscal year quarter (April 1 – June 30) with a greater-than-expected net loss of $1.1 billion. The national economic slowdown reduced mail volume at an accelerated pace and continued inflation in fuel prices produced rapidly escalating transportation costs. Despite these financial challenges, Postal Service employees […]
Despite cost-cutting measures, the U.S. Postal Service ended the second quarter with a net loss of $707 million, driven by a continued decline in mail volume resulting from the current national economic climate. Meanwhile, the on-time delivery of First-Class Mail continued at record levels in the second quarter. The second quarter results were presented during […]
Projects net loss of $600 million in 2008 The Postal Service Board of Governors today approved an aggressive 2008 financial plan for the U.S. Postal Service that includes $1 billion in cost savings and puts its expense growth lower than inflation. The Postal Service’s operating, capital and financing plans for the new fiscal year, known […]
USPS Press Release Board of Governors Briefed on Third Quarter Performance & Financial Results National on-time performance scores for the delivery of First-Class Mail were at all-time highs in the third quarter of fiscal year 2007 for all three of the categories the Postal Service tracks. Overnight service was 96 percent on-time, up from […]