Post Office Losses Reach $4.7B for Year

Post Office USPS Considers Post Office Closings Reduced Mail Delivery and Reduced Hours..

by Associated Press

Published: Wed, August 05, 2009 - 10:47 am CST Last Updated: Wed, August 05, 2009 - 10:49 am CST

(AP) The post office says it lost $2.4 billion from April to June.

That brings the year's losses so far to $4.7 billion. And the Postal Service expects to be $7 billion in the red when the fiscal year ends on Sept. 30. The stark figures come from a decline in mail volume as people rely more on e-mail, plus a dip in advertising mail because of the recession.

In an effort to reduce costs, the agency has proposed closing several hundred local post offices, has asked Congress for permission to reduce mail delivery to five days a week, and has reduced hours at many offices.

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rolltide33 Says:

Wed, Aug 05, 2009 at 9:02 pm

I don’t use them for anything in my personal life. Work is a different story. I wish they would raise the rates sky high. Then they could afford to operate more efficiently and perhaps all the junk mail would slow down.

Cruzman Says:

Wed, Aug 05, 2009 at 6:56 pm

Each and every time the Post Office raises their rates, I begin looking for more ways to avoid their services. Seems to me that this is simple economics. If you want to encourage folks to use postal services, try reducing rates!

DT Says:

Wed, Aug 05, 2009 at 2:14 pm

I stopped using them a year ago, it’s easier to just pay my bills online. As far as I’m concerned they can also stop delivering all that junk mail that ends up in the trash.

mob1 Says:

Wed, Aug 05, 2009 at 11:32 am

Here is an Idea, Stop Raising Rates. I stopped using USPS due to the rates.