The Postal Service lost $5.5 billion dollars in fiscal 2014, all of which came from USPS's cost to pre-fund employee healthcare. The loss comes in at about $500 million more than fiscal 2013, but nearly $11 million less than fiscal 2012 when USPS recorded a historic loss of $16 billion, a Nov. 14 USPS statement says.
The Postal Service Board of Governors voted to appoint the first female postmaster general to replace Postmaster General Patrick Donahoe, who will retire early next year. The Board of Governors announced Nov. 14 in an email statement that Megan Brennan, the current USPS chief operating officer, will begin her tenure as the new postmaster general in February 2015.
Direct mail is a stale marketing medium reserved for teeth whitening services and carpet cleaning companies, right? Not so, says Postmaster General Patrick Donahoe.
The Postal Service plans to reduce its overall workforce by 10,000 employees in 2015, Postmaster General Patrick Donahoe said March 17 at the National Postal Forum.
Using embedded digital technology will make direct mail a major part of marketing campaigns again, said Postal Service Postmaster General Patrick Donahoe at an industry conference March 17.
A Postal Service overhaul bill that changes the agency's business structure and benefits system was approved Thursday by the Senate Homeland Security and Governmental Affairs Committee, while the agency suffered another multi-million dollar quarterly loss.
The Postal Service ended fiscal 2013 with a loss of $5 billion, down from a $16 billion loss in fiscal 2012, say USPS financials released Nov. 15. Still, that marks seven consecutive years that USPS incurred a loss, a Postal Service release on its financial statement (.pdf) says. The Post Office has lost money for seven consecutive years, the Postal Service acknowledges in a release on its financial statement (.pdf).
Reforming Postal Service health care so retirees utilize Medicare would save USPS money and help keep the agency solvent, USPS Postmaster General Patrick Donahoe told a Senate panel Sept. 26.
The Postal Service needs legislation to bring the agency back to financial solvency as it faces the prospect of having to ask for an emergency rate hike to keep it afloat, Postmaster General Patrick Donahoe told the Senate Homeland Security and Governmental Affairs Committee.
The Postal Service made changes to its Priority Mail including day-specific delivery as well as free insurance and tracking, which is expected to boost shipping revenue, an Aug. 14 USPS statement says. The plan is expected to bring an estimated $500 million per year in additional revenue.