Postal Service Ends Third Quarter with $2.4 Billion Loss
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Work hours were reduced by 88 million hours in the first three quarters of fiscal 2009, or 8.4 percent compared to the first three quarters of 2008. “We are on pace to meet our goal of reducing work hours by more than 100 million for the entire year,” said Joe Corbett, chief financial officer and executive vice president. “That’s double the rate of last year’s successful work-hour reductions and the equivalent of 57,000 full-time employees, or 8.6 percent of our full-time workforce.”
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