(CNSNews.com) – Despite an increase in revenue of $1.1 billion, the U.S. Postal Service reported a net loss of $5.1 billion for Fiscal Year 2015, which ended on September 30th.
"The U.S. Postal Service reported a net loss of $5.1 billion for fiscal year 2015 (October 1, 2014 - September 30, 2015)," the Postal Service said in an news release.
It was the ninth year in a row that USPS ended its fiscal year in the red.
“We achieved controllable income in excess of $1 billion for the second consecutive fiscal year giving us some limited flexibility to make critical investments in the future of the organization,” Postmaster General Megan Brennan said in a statement. “To maintain this success, we will need to continue our efforts to grow the business and drive operational efficiencies.
“However, we will also need the enactment of legislation that makes our retiree health benefit (RHB) system affordable and that provides increased pricing and product flexibility.”
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6 comments:
They keep hiring help they don't need.
The CEO still gets a bonus for their poor performance.Wife worked at P.O. for years so I know this is true.
Not surprised ! I have an on line business that causes me to ship a lot of packages. (15-20 small packages at a time) I was told that if I wanted to come in with my business I was only allowed to come between certain times and certain days.. Can you imagine a store saying.. Well sir you are spending too much money with us so you can only come back to the store certain days and hours? .. I called post master in DC and they said that this was not the policy so I demanded my rights at local post office :) now I can give them my money any day . Any time.. Lucky me
Too many open booths with employees shooting the breeze in the back.
Too much getting my neighbors mail (junk after I discontinued mine - I get the next one - they don't read the apt number).
Too much raising the prices for a letter.
Too much of a retirement plan (they didn't cut back for the new hires).
I wish UPS and FedEx would start carrying letters for a competitive price....
Wasn't it the whole idea to make the department self-sufficient? That would take business savvy, which they don't seem to have or to seek.
Wouldn't eliminating their pensions help out?
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