Reported 9 days ago
The U.S. Postal Service has reported a $9.5 billion net loss for the fiscal year ending September 30, prompting warnings that without further cost cuts and revenue enhancement, it may require a government bailout to avoid financial collapse. Since 2007, the Postal Service has lost over $100 billion and is implementing a 10-year restructuring plan to address projected losses, despite falling first-class mail volume and a need for continued operational adjustments.
Source: YAHOO