USPS Reports Loss Of $255 Million In November 2009

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.

See Full Report via Postal Regulatory Commission web site

3 thoughts on “USPS Reports Loss Of $255 Million In November 2009

  1. The USPS continues to “cry” about their losses yet they continue to give their executives bonuses, some up to 80k in addition to their salary. Hey, does this sound familiar? (AIG, wall street)

  2. Why then, if the mail volume is down, they’re still giving out overtime, bringing in people on their 6th day to work, having everyone come in on their holidays, and still having people sit in the resource room twiddling their thumbs. I think management is trying to get the Post Office privitized.

  3. Postal Finaces need to be audited for waste and frivious spending habits. I have observed a lot of waste through Mgt. from $2,700.00 continental breakfast for the mgt. meetings to Big Screen 47″ 1080P Samsung TV’s for their personal use, to $150,000.00 make overs which only had $24,000.00 work done. Poor spending habits need to stop. $750,000.00++++ on equipment stored and wasted away. Shady contracts.

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