Postal Service sees $1.6B August net loss

Share this content:

The US Postal Service saw a net loss of nearly $1.6 billion in August, and a $7.7 billion net loss for the first 11 months of its 2010 fiscal year.

The organization ran a $721 million net loss in August 2009, and a $6.3 billion net loss for the first 11 months of its previous fiscal year, according to preliminary financial information published by the Postal Regulatory Commission.

However, the Postal Service's total mail volume was up 1.8% year-over-year during August, totaling 13.7 billion pieces. For the fiscal year to date, mail volume down 3.8% to 156 billion pieces.

The USPS also cut employee work hours by

Total work hours at the USPS decreased 3% year-over-year in August to 98 million, and 6.2% for the fiscal year to date to less than 1.1 billion.

The Postal Service saw a net loss of $764 million in July, an improvement from its net loss of $865 million in July 2009. USPS officials have warned that “given current trends, we will not be able to pay all 2011 obligations.”

Last week, Sen. Thomas Carper (D-DE) introduced a bill that would allow the USPS to reduce the number of its home delivery days, close unnecessary post offices, and open retail outlets or automated kiosks in grocery stores and other retail areas.

A Postal Service spokesperson declined comment on the statistics, saying the USPS does not comment on the monthly unaudited numbers.


Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

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