The US Postal Service filed its November 2009 (unaudited) preliminary financial report yesterday with the Postal Regulatory Commission. USPS reported a net income/ loss of $255 million. The total Fiscal Year to year loss is $476 million ($221 million for the month of October) .
Mail volume was down across all classes except shipping services with an overall total decrease of 4.0% but revenue was up by 0.9%. First class mail volume was down by 3.3% (195 million few pieces) but first class mail revenue was up by 1.3%.
The Postal Service continues to reduce its workhours with Mail Processing and Customer Services/Retail showing the highest reduction of 15.1% and 11.7% respectively.