USPS Resumes Reductions, Including $10,000 Early Retirement Offers to Select Employees
In its most recent quarter, the USPS sustained its 20th loss in the past 22 quarters. The second quarter (Jan. 1 to March 31) of this fiscal year resulted in a net loss of $1.9 billion.
“The Postal Service is working diligently to improve its finances by streamlining our network to improve efficiency, reduce operating costs and increase revenue, which was up $379 million over the same period last year—the third straight quarter of revenue increase,” Patrick Donahoe, USPS Postmaster General and CEO, said in May. "Despite aggressive cost-cutting actions, however, we will still incur annual inflationary cost increases of approximately $1.2 billion each year, and First-Class Mail volume continues to decline."
Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.