Postal Service reports net loss of $3.8B for fiscal 2009

Share this content:

The US Postal Service reported on November 16 a net loss of $3.8 billion for its 2009 fiscal year. It also disclosed a nearly 9.1% drop on operating revenue to $68.1 billion this year from $74.9 billion last year.

While the agency's net loss is $1 billion more than the $2.8 billion reported for the 2008 fiscal year, it cut operating expenses by nearly $6 billion for the fiscal year. The USPS saw a decline of more than 25 billion mail pieces, or 12.7%, of its total mail volume for fiscal 2009, which ended September 30.

The agency, which is set to file its 2010 fiscal year financial plan later this week, is predicting a revenue decline of $2.2 billion for its next fiscal year, as well as a net loss of $7.8 billion, cost reductions of more than $3.5 billion and a reduction in mail volume of 11 billion pieces.

Last week, John Potter, postmaster general and CEO of the USPS, again advocated dropping the agency's delivery days from six to five per week. The agency is in the midst of determining what local branches to close in an effort to further cut costs.

Congress passed legislation this fall that allowed the USPS to delay $4 billion in payments to a retirees' healthcare fund. The postal service had been charged with spending $5.4 billion on payments to the fund for fiscal year 2009.

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above