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DeJoy calls for ‘aggressive actions’ at USPS to keep 2030 break-even goal within reach

May 9, 2023

READ FULL ARTICLE AT » Federal News Network

Two years into its 10-year reform plan, USPS has cut its projected losses for the next decade in half — from $160 billion to $70 billion.

“Not meeting our short-term financial goals, as specified in the DFA is not taken lightly,” DeJoy said during a meeting of the USPS Board of Governors Tuesday. “We will be taking more aggressive actions to get back on track.”

Congress last summer passed the Postal Service Reform Act, a long-awaited reform bill expected to save USPS $107 billion in total. Given an immediate $57 billion forgiveness if payments owed to its retiree health benefits fund,  USPS reported a $56 billion net profit in fiscal 2022.

USPS Chief Financial Officer Joe Corbett said the agency is seeing a continued reduction in its surge in packages that started under the COVID-19 pandemic. However, USPS package volume remains above pre-COVID levels.

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