U.S. Postal Service Suffers $5.2B Loss for Third Quarter
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These expenses, along with the continued decline of First-Class Mail volume, more than offset the quarter’s 9 percent growth in revenue from shipping services and package delivery.
Despite reporting continued success in generating new package delivery revenue, improving efficiency and reducing costs, USPS said that large losses are expected to continue until legislative changes are made in line with the Postal Service Business Plan to return to financial stability. The plan includes measures that USPS says require urgent legislative changes, including:
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