U.S. Postal Service Lost Record $8.5 Billion in 2010 | CNSnews.com: "(CNSNews.com) - The U.S. Postal Service (USPS) accrued a record loss of $8.5 billion in fiscal year 2010, up $4.7 billion from 2009, highlighting financial pressures that are not expected to improve in 2011 or in the “foreseeable future,” according to the Government Accountability Office (GAO).
The loss was mainly driven by employee benefits and compensation costs, including a $5-billion-plus congressionally mandated retiree health benefits payment and a drop in mail volume.
“USPS must modernize and restructure to become more efficient, control costs, keep rates affordable, and meet changing customer needs,” the GAO stated in an audit released on Dec. 2."
See original work for more on this and other stories.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.