USPS sees $642M May net loss
The US Postal Service saw a net loss of $642 million in May, bringing its fiscal-year-to-date total net loss to more than $2.9 billion, according to preliminary financial data filed with the Postal Regulatory Commission.
The agency saw net losses of $677 million for last May and more than $3.35 billion for its last fiscal year at the end of May.
The USPS also carried a total mail volume of 13.2 billion pieces for the month, and 115.8 billion pieces to date for its fiscal year, which began October 1, 2009.
A USPS representative could not be immediately reached for comment.
Last week, mailing groups said they will form a coalition to fight the USPS' planned exigent price increase, which is part of its 10-year plan to restore financial stability to the agency, along with a transition to five-day home delivery.