WASHINGTON (Reuters) -The U.S. Postal Service on Friday reported a net loss of $3.3 billion for the three months ending March 31 as the money-losing agency continues to hike stamp prices and look at ways to cut costs. USPS said its controllable loss was $848 million, up from $317 million in the same quarter last […]
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US Postal Service reports $3.3 billion quarterly net loss
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WASHINGTON (Reuters) -The U.S. Postal Service on Friday reported a net loss of $3.3 billion for the three months ending March 31 as the money-losing agency continues to hike stamp prices and look at ways to cut costs.
USPS said its controllable loss was $848 million, up from $317 million in the same quarter last year as mail volume continues to fall. In late March, U.S. Postmaster General Louis DeJoy resigned under pressure from the White House. President Donald Trump has said is considering merging the Postal Service with the U.S. Commerce Department, a move Democrats said would violate federal law.
(Reporting by David Shepardson)