USPS Lost $592 Million for January 2010

The US Postal Service filed its January 2010 (unaudited) preliminary financial report today with the Postal Regulatory Commission. USPS reported a net income/ loss of $592 million. The total Fiscal Year to year loss is $887 million ($255 million for lost for November and $179 Million gain the month of December) .

Mail volume was down across all classes with an overall total decrease of 7.6%

The Postal Service continues to reduce its workhours with Mail Processing and Customer Services/Retail showing the highest reduction of 10.0% and 12.7% respectively.

See Full Report via Postal Regulatory Commission web site