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US Postal Service warns it must continue cost cuts or risk bailout [View all]
WASHINGTON, Nov 14 (Reuters) - The U.S. Postal Service said on Thursday it must continue to cut costs and boost revenue or risks requiring a government bailout to help the organization avoid financial collapse.
USPS reported on Thursday a net loss of $9.5 billion for its fiscal year ending Sept. 30, a $3-billion bigger loss than last year, largely due to a year-over-year increase in non-cash workers’ compensation expense. Total operating revenue was $79.5 billion, up 1.7%.
USPS reported on Thursday a net loss of $9.5 billion for its fiscal year ending Sept. 30, a $3-billion bigger loss than last year, largely due to a year-over-year increase in non-cash workers’ compensation expense. Total operating revenue was $79.5 billion, up 1.7%.
More trouble at the USPS.
https://www.reuters.com/world/us/us-postal-service-warns-it-must-continue-cost-cuts-or-remains-path-possible-2024-11-14/
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