U.S. Postal Service loses more money as mail delivery slumps | Inquirer

U.S. Postal Service loses more money as mail delivery slumps

Amazon Associate

WASHINGTON — The U.S. Postal Service is reporting another quarterly loss. That’s because strong gains in package deliveries were outweighed by an unrelenting decline in mail volume and the costs of its health care and pension obligations.

The Postal Service report shows a net loss of $1.3 billion between January and March, larger than a $562 million loss in the same period last year.

The financial report released Friday comes amid sharp criticism from President Donald Trump, who says the Postal Service is being scammed out of billions by Amazon and other online retailers.

The Postal Service is seeking greater freedom to raise stamp prices to help cover costs. It warns of a weak financial situation that demands attention to allow for much-needed investments in package delivery in the e-commerce age.

As an Amazon Associate INQUIRER.net will earn from qualifying purchases.

Don't miss out on the latest news and information.
TAGS: Amazon, Finance, online shopping, US Postal Service
For feedback, complaints, or inquiries, contact us.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.