Wed. Jun 19th, 2024

U.S. Postal Service Faces More Financial Losses—How Can It Stem the Tide?

August 22, 2023
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READ FULL ARTICLE AT » U.S. GAO

The U.S. Postal Service recently announced quarterly financial losses of $1.7 billion, as well as declines in the volume of First-Class Mail, Marketing Mail, and packages. Financial challenges like this are nothing new. The U.S. Postal Service (USPS) has long faced financial challenges that threaten its ability to deliver your mail and pay retirees’ benefits, as well as have broader effects on the mailing industry.

The Postal Service has developed a 10-year strategic plan to guide it out of this precarious situation and make it financially self-sufficient, while also improving service performance. The plan includes some upfront spending on changes that are meant to reduce long-term financial issues. Today’s WatchBlog post looks at our new work about USPS’s Strategic Plan—what are the changes and how might they fix these financial woes?

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