USPS Reports $4.7 Billion Net Loss ending May – $1.8 Billion More Than Same Period Last Year

The US Postal Service filed its eighth month preliminary financial report of the 2011 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating loss of $1.3 billion for the month of May 2011. This same period last year saw a $642 million net loss. In October 2010 USPS saw a net profit of $283 Million, November 2010 net loss $456 million, December 2010 net loss $156 million, January 2011, net loss $451 million, February 2011, net loss $1.1 billion, March 2011, $657 million, April net loss of $747 million . After eight months into FY 2011 USPS reports a net loss of $4.7 billion (same time last year it was $2.9 billion). USPS May 2011 Financial Results Net loss $1,348 billion for June and $4,653 billion ending  May 31, 2011. at the end of April USPS loss was $ a little more than $3.3. billion.

Postal Service reduced work hours in the month of May by 94,182 million hours or 2.2%.

The number of career employees on May 31, 2011, was 567,401, non-career was 90,050.

* Total mail volume of 12,873,284 billion pieces, compared to 13,125,257 billion pieces in the same period a year earlier, a decrease of 1.90%

* Operating revenue of $5,120 billion, compared to $5,270 billion in the same period a year earlier, a decrease of 2.8%

* Personnel Compensation & Benefits was $3,930 billion roughly 77% of the total operating expenses, an increase of 0.4% SPLY
Mailing Services results for the month of May include:

* First-Class Mail revenue of $2.471,315 billion,decrease 7.8% on volume of 5,641,337 billion pieces;down 7.2%
* Standard Mail revenue of $1,396,194 billion,up by 4.1% on volume of 6,567,762 billion pieces; increase of 3.0%
* Periodicals revenue of $147,527 million,0.07% on volume of 579,449 million pieces; decrease 0.07%
* Package Services revenue of $119,404 million, increase 8.7% on volume of 47,145 million pieces, increase of 5.5%.

* Shipping Services revenue of $711,194, up by 4.7%. Shipping Services volume of 114,342 million pieces represented a 5.6% percent increase compared to the same period a year earlier.
* Total mail volume of 12,873,284 billion pieces, compared to 13,125,257 billion pieces in the same period a year earlier, a decrease of 1.90%

see full report via PRC

25 thoughts on “USPS Reports $4.7 Billion Net Loss ending May – $1.8 Billion More Than Same Period Last Year

  1. swine, why don’t you shut your mouth. unions are good at taking your money and spending it on themselves to go to las vegas, hawaii, give their relatives lots of $$$’s for writing essays, and so on. unions are a brotherhood group of of sel entitlement mobsterish cloonies with egotistical problems who are arrogant beyond belief. they have different faces. when you really get to know who they are, then you may see them in a different light.

  2. guardeen angel, please don’t write so loooong of a message, one third way through it, i couldn’t take it anymore because i was trying to keep my eyes open. it was like reading blah, blah, blah.

  3. the usps keeps cutting work hours some poeple are only working 10-12 hours aweek. How about cutting surpervisor hours my supervisor has now work is day off going on 42 weeks .Now the usps wants to save hours money start with thier n/s days just don”t get it

  4. David,

    Look at the report itself and not the reporter misinterpreting it. The Postal Service used 94.182 million hours in May, it did not save that many hours. It reduced hours 2.2% from the previous May total of 96.317 million hours a savings of 2.135 million hours. So at an average hourly rate of $35 per hour that is a savings of about $75 million. While that is a nice savings for a month it is only half the amount of savings needed as the revenue for May dropped $150 million from the same period last year.

  5. 4 is my kind of numbskull conservative. Votes all us phonies in because of family values. We loves our pawns!

  6. You can’t win Guardian Angel, these losers are so convinced that 6-day union delivery is the only way to go! I can’t wait until February 13th, 2012, so I can submit my NALC cancellation paperwork! Let these idiots support the union!

  7. Huuum, I think their reduction in man hours is waaaaaaay off. what does 94,182 million man hours even mean???? Does that MEAN 94 BILLION,182 million??? It can’t of course. But lets drop the 94 and say it was 182 million man hours (remember in the month May alone). Let’s just do 182 million multiplied by 20 (hourly wage, although to be honest this is lowballing the average hourly wage so I feel comfortable with the outcome). That comes out to a 3.6 billion dollar savings in one month with reduced work hours. This can’t be right either, otherwise we would have been way in the black for the month. So if we can’t trust the VERY FIRST figure they give us, how can we trust the rest of this article? I can’t, and you shouldn’t either!

  8. Get emotional about the tough old days when men were men and it will get you zilch. Without the unions you will be what they want us all to be, Postal Support Employees. The future of the Clerks. Thats right without benefits, without a set schedule and at whatever they feel like paying you 13,14,15 bucks an hour . They are hiring them at a record pace. Like management cares about you or your family.

  9. i’ve been a ptf for over 5 years and i’m sure there’s no end in sight, now they’re probably withholding for 5 day delivery. the postal service is apoorly run operation. in the outside world this business would be closed down. either the public supports gov’t provided mail service or try your luck at a private entity which will be providing only if a profit is present…good luck

  10. guardian angel is correct, we are paying the price for workers who bitch about everything, they will crying soon when there at unemployment line wishing to make 27 dollars hour, there should be 5 day delivery, that way eliminate overtime and grieviences out of the ass. unions want 6 days delivery so they have 50,000 more employees so they can rake in union dues and file more grievances, unions cant figure this out if they dont go to 5 day were doomed would you rather have 250,000 carriers or would you rather have 50,000 more carriers working 6 days a week, 250,000 is quite higher than 50,000 do the math ELIMANATE 6 DAY DELIVERY

  11. Thank you Guardian Angel. But, you are preaching to the choir. Reprobates have not a clue about doing what is right. Pride of workmanship is only for the few, and there is not enough of us to carry the ones with the guvmint entitlement attitude anymore. As a sidebar; I would rather be a TEABAGGER than an HOTAIRBAG! LOL Gone fishin’.

  12. hey jack potter, you are a trip! go run your route, fall down and get hurt, and when you are put up for removal for performing your job in an unsafe manner, call guardian angel to defend you, you want the unions disbanded, good luck!

  13. thank you guardian angel. really? your long winded comments are laughable. the plant is holding mail on satuirday’s so it appears there is no volume, so the customer thinks that going to 5 days is no big deal. have you checked your dps on saturdays? you can tell when the usps is polling customers, because your dps has zero bulk in it. i really think guardian that you are proposing running routes, or coming back early if the mail is light, just remember, when it is heavy such as advo days, or just a heavy day, management is expecting everyone back on time, or better yet, to pivot. we should work off the clock, do you support that also?
    i am not saying milk the system, but taking care of coa’s, vacation holds, box labeling, is gone, what else should we give up? there is no service anymore and that is tooo bad!

  14. I call your attention to the following…..”Personnel Compensation & Benefits was $3,930 billion roughly 77% of the total operating expenses….”

    Did you catch the change from ALL previous postal stories that attributed 80% of our costs to “LABOR”? The lie and the insinuation was that the USPS is failing because of union wages. It has been repeated endlessly.

    But in fact, 57% of that 80% figure is for management salaries, NOT union wages. And now we read “personnel compensation and benefits”, an interesting change in phraseology. There are plenty of stories on the web about labor pay and bennies. Now let’s see some in depth reporting vis-a-vis management salary and bennies.

    The real story here, much like the nation, is that there is a redistribution of wealth agenda being conducted by the right wing of our elected officials. In that some 90% of the wealth in the U.S. is controlled by the top 10% of the populace, you have to follow the money. Since a large majority of our 300,000,000 citizens are middle class and below, the minority wealthy class has to create class warfare to keep the proletariat focussed on each other, and NOT on the details created by those in power to stay in power and keep the money flowing upward.

    We can’t raise taxes on those making over $250,000; let’s cut medicare, medicaid, and social security. Remember how Republicans immediately blurred the line from raising taxes on the wealthy to “Democrat party wants to raise working Americans taxes, and we won’t stand for that”. These little insuations are part of the big game plan to screw the working class. Look no further than Rep Issa’s reform plan, where he likens returning postal overpayments to a “bailout”. He won’t return OUR money. He wants to TAKE MORE of it.

    Of course, Issa is a Republican, and if you google his bio, you’ll find some very shady dealings in his personal life, such as arson, insurance fraud, and threats with guns. So now this weasel, among the richest members of the House, if not THE richest, wants to take away collective bargaining, and grant the power to rip up labor contracts. And that $5.5 BILLION annual payment? He does not address it at all in his “postal reform” bill. That’s enough for now. Do your homework and follow the money. I’m out.

  15. Some of you people who post here can’t be postal workers because you are so stupid. The Union files grievances and wins millions and that is bad? So I guess what the ole guardian idiot wants is for the USPS to violate the contract and the Union just turn their heads the other way. The USPS is in this predicament because of stupid people like the guardian idiot and the disgusted nincompoop who think it is okay to negotiate an agreement then when one party violates it, just say oh well so what. Maybe Saturdays are a joke to YOU but YOU idiot do not matter, it is the CUSTOMER that matters. So when the elderly gets their prescriptions through the mail and it is supposed to be delivered on Saturday I guess we will just tell them…Go use UPS and FEDEX, they will deliver on Saturday. It makes me sick to read what stupid people write. If the USPS is in such dire straits, then why hasn’t Congress done anything? Because THEY want the USPS to fail because they know the employees will sit back and think I have a job nothings going to happen to it. Well as long as Congress keeps their hands on the USPS it is doomed to fail. All of you who want to blame the Union and want to cut service, why don’t you just quit, that way the USPS can save money right away.

  16. Sorry to question the integrity of this report, but that doesn’t add up at all. I believe nothing these idiots put out.

  17. Guardian Angel is right about how the unions will spend thousands of dollars in order to collect one dollar.I know of a few union stewards that used to tell me that they would rather stay in the office all day filing grievances than doing their job.

  18. The Obama excuse for all fiscal facts are found in 3 simple rules:

    1. Bush is at fault.

    2. Read rule # 1

    3. The GOP hates your grandma by saying Social Security needs reform or else it fails outright

    If you don’t accept these 3 rules, your are clearly a FAUX NEWS, NEOCON, RACIST, TEA PARTY BUFFOON

    Welcome to ObamaNation

    where +$4 a gallon gas is the new norm ….where +9% unemployment is the new norm….here the TSA government union pervs touching your children’s genitals at the airport is the new reality in the Land of the Free.

  19. ITS THE SAME TOON ALL THE TIME BLAME THE UNIONS BLAME THE CARRIERS GUARIDIAN ANGEL SOUNDS LIKE A POSTMASTER WHO MAKES ABOUT 100K A YEAR AND NEVER CARRIED MAIL 25 YEARS AGO OF COURSE MAIL WAS HEAVY BUT THE ROUTES WERE ALOT SHORTER THESE PEOPLE WHO ARE CRITICAL HAVE NO ANSWERS THE BOTTOM LINE IS THE PEOPLE ON MY ROUTE KNOW ME AND CAN COUNT ON ME FOR GOOD SERVICE THE PUBLIC DISLIKES POSTAL MANAGMENT THEY CALL THE POST OFFICE NO ONE ANSWERS PACKAGES ARE LOST TES GIVE HORRIBLE SERVICE POSTALMANAGMENT NEVER LOOKED TO THE FUTURE THEY JUST COLLECTED THEIR BOUNESSES ANT FAT PAY CHECKS GAURDIAN TALKS ABOUT NEW BUSSINESS WE HAD ALL THE BUSSINESS AND GAVE IT AWAY IF IT WASNT FOR THE LETTER CARRIER WE WOULD HAVE NOTHING

  20. FIRST CLASS MAIL WILL CONTINUE TO ERODE. WE NEED TO GET BACK IN THE PACKAGE BUSINESS. TREATING STANDARD MAIL LIKE FIRST CLASS WILL NOT PAY THE BILLS. THE ENTITLEMENT ATTITUDE IS STILL RUNNING WILD. WE HAD BETTER TRY HARDER INSTEAD OF TRYING TO DO LESS. MANAGEMENT- HOW ABOUT CUTTING THOSE USELESS JOBS LIKE POSTAL VISION. ODIS COUNTS ,COUNTING EMPTY EQUIPMENT,ETC.? I WILL REALLY BELIEVE WE ARE TRYING TO SURVIVE WHEN I SEE USELESS OVERTIME CUT, SLACKERS GETTING WRITTEN UP, AND THE SUPERVISORS ACTUALLY MAKING PEOPLE WORK.

  21. Oh how true!! It is about time everyone wakes up!! Agree with you Guardian Angel!!!
    We have to do what is right to save our jobs!! The ptf’s have no clue on what mail volume really is or was!! Saturday deliveries are a big joke!! The ptf’s can have off on Saturdays ( because we all know they deserve it) LOL Then the full time carriers are suppose to pivot on Saturdays & deliver most of the mail to make up their 8 hour day!! Instead of having ptf’s working & going home when they are finished with the routes!! In which, hours could be saved every Saturday in most offices!!! Looks like it will have to take an act of congress to eliminate Saturday deliveries to help make the budget, since management does not try to save whenever they can!! The mail we deliver in 6 days can easily be delivered in 5 days!! The unions should realize that the ptf’s do not want to work most of the time anyhow!! Only at their convenience & then they have to curtail because there is too much mail for them to case up!!! LOL

  22. It amazes me how the same people who ran this business into the ground are the same people making all the decisions for the future of the postal service. This goes for the Unions as well who are destroying the american dream with all the greed and stupid greivances they waste millions of dollars on a year looking for cash payouts. The same union who stated the postal service does not want to go to evaluated routes. That was the worst decision you made not going to evaluated routes. The Union was good at one time but now instead of trying to do the right things and protect jobs for all they concentrate on old rules and protecting workers who don’t want to work and don’t come to work. Greed has hit all areas of this operation. We are self destructing and in such a downward spiral that many in the near future may lose pensions, jobs, forced to a lower salary and worse a word called restructure and if that happens we all lose.
    People are complaining everyday about carrying mail for 60,000 a year and saying were not paid enough. I feel we have all been blessed with our jobs and salary because of the sweat and hard work of the workers years ago who did the same jobs for much less. Many of you think 2 tubs of mail is 2 hours of overtime for that day. Well 20 years ago the carriers had 16 to 40 feet a day and did it with 2 hours overtime. What a joke today the lack of respect for this job and the company. We should all save our jobs forget the Union and do your job right. Save your own job by getting done when your suppose to. Change is coming no matter what the unions say there is not way of getting away from these changes. Were only hurting ourselves. If you think finding a job is going to be easy at the wage you make now keep doing what your doing and listen to the unions about slowing down and don’t come back stay out there and use wasted time to inflate false route street times. What a joke it takes some people 1 hour to case 56 pcs of mail. Keep listening to your unions and watch what happens. You will be out of a job and for all the dues you have paid over your years of service are lost. Does it look like they are helping your cause??? Keep watching change is coming and if you don’t save your job by doing the right thing and you know what a fair day of work is, then in the next few years expect a very serious situation. Joke all you want and make fun of people and destroy ech other with rediculous comments. Remember this job has provided for millions of families over all the years. Do the right thing and help save this business. Get customers on board and sell and deliver with honor and integrity. We need to all come together as a team and start respecting all phases and start treating all people with dignity and respect. Bad kharma is ruining this system and lack of faith in God. Were self destructing and because were all to absorbed in the wrong things we are headed for disaster. We need change for the positive and better morale. Evaluated routes would save a ton of money. Dropping a day of delivery is not a great idea but may have to happen because of the severe financial situation the service is in. We all know Saturdays are a joke anyway many routes have so many closed busineses and people are not even home on the weekends. Its a wasted day in many cases. We all know that. Its time to be realistic and realize change is coming no matter what you try to do. You have the power to save our jobs by saving time the right way. Don’t run and don’t slow down do it right . 40 hours is better than 0 hours and wondering where your your next payment is coming from, or how will you feed your family. If you don’t act now in the next few years you can really start to worry. Greed will take this company down ! Lack of Faith in what is important in life and the most important factor in life is how you treat others. Laugh now at the end of time you won’t be laughing I promise that. We can change this together do the right thing and save this job and your job.

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