Air Freight News

US Postal Service seeks reforms as it reports $9 billion yearly loss

The U.S. Postal Service on Friday said it was seeking new administrative and legislative reforms as it reported a $9 billion yearly loss, down slightly over the prior budget year.

New Postmaster General David Steiner said USPS must be more efficient and still has a "significant systemic annual revenue and cost imbalance.. To correct our financial imbalances, we must explore new revenue opportunities and public policy changes to improve our business model." USPS, which lost $9.5 billion in the prior year, has lost more than $100 billion since 2007 despite significant restructuring and legislative reforms.

Reuters
Reuters

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