{"id":6192,"date":"2026-05-08T22:40:21","date_gmt":"2026-05-09T05:40:21","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=6192"},"modified":"2026-05-08T22:42:03","modified_gmt":"2026-05-09T05:42:03","slug":"us-postal-service-reports-2-billion-quarterly-loss-as-cash-crunch-mounts","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=6192","title":{"rendered":"US Postal Service reports $2 billion quarterly loss as cash crunch mounts"},"content":{"rendered":"\n

The U.S. Postal Service on Friday reported a net quarterly \u200bloss of $2 billion as it faces a growing financial crisis and has \u200cwarned it could run out of cash as soon as February.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

USPS said mail volumes fell another 6.3% in the three months ending March 31 as operating revenue rose 2.3% to $20.2 billion \u200bover the same quarter last year.

USPS last month said it would temporarily \u200bsuspend employer payments for a federal pension program to conserve cash \u2060and plans to raise the price of first-class mail stamps to 82 cents \u200bfrom 78 cents, effective July 12.

USPS has reported total net losses of $120 billion since \u200b2007 as first-class mail, its most profitable product, has fallen to its lowest volume since the late 1960s.<\/p>\n\n\n\n

“We are in a cash crisis, and we are now taking serious and appropriate \u200bsteps to conserve funds to operate,” Postmaster General David Steiner said. “To avoid disruption \u200band to sustain our role supporting American commerce and the public, we require urgent Congressional action \u200cto \u2060expand our borrowing authority and to address outdated constraints on the organization.”<\/p>\n\n\n\n

USPS’s suspension of employee pension contributions will conserve $200 million in cash every two weeks, or $2.5 billion through September 30, it said.

Last month, USPS won approval from the Postal Regulatory Commission \u200bfor a temporary 8% \u200bprice hike for \u2060priority mail and package deliveries to deal with rising transportation and fuel costs. USPS plans for the surcharge to be in \u200beffect through January 17, 2027.<\/p>\n\n\n\n

Reuters also reported that USPS struck a \u200bdeal with \u2060Amazon.com<\/a> (AMZN.O), opens new tab<\/a> in which the retailer will use the Postal Service for at least 1 billion packages a year, or 80% of its volume last year. Steiner said on \u2060Friday \u200bthat developments with major customers including Amazon and DHL \u200bwere encouraging.<\/p>\n\n\n\n

In March, Steiner said the Postal Service was hiring restructuring advisers to help address its mounting \u200bfinancial troubles.

Reprinted from Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"

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