Postal Service Loses 'Just' $5.1B Last Year
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The retiree health benefit pre-funding payment postponed by Congress and the president is now due by Nov. 18. The USPS says that unless additional legislation is enacted, it will be forced to default on this payment.
The Postal Service continued to increase operating efficiency in 2011, including a reduction in work hours by 34 million despite an increase of 636,500 delivery points. Its productivity gains were the result of effective workforce management, efficient use of materials and transportation, and continued advancements in the use of technology. Since 2001, the USPS has reduced work hours by 28 percent, while delivering to almost 14 million additional addresses.
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