Washington, D.C., USA - Earlier this month, the U.S. Postal Service (USPS) reported a $9.5 billion (USD) net loss in fiscal year 2024. The USPS does not expect to hit its "break even" goal next year.
"Our pricing and product strategies are continuing to improve our revenue picture and fuel market share gains in our package business, demonstrating the increasing competitiveness of the Postal Service," said Postmaster General Louis DeJoy (pictured). "While we continue to reduce our costs, there remain many economic, legislative and regulatory obstacles for us to overcome." Despite DeJoy's optimism, some observers believe the agency may be facing a government bailout or dissolution.
The leadership of the National Association of Letter Carriers recently told members that USPS's growing net losses were a factor in negotiations for a three-year tentative labor agreement.
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