The Postal Service will undertake cost saving measures and service changes in 2013 to increase available revenue, says Postmaster General Patrick Donahoe.In his State of the Postal Service presentation, Donahoe said on Jan. 24 the service remains "in a very tenuous position as far as cash on hand" because Congress has not passed legislation to aid the Postal Service.
More than 25,000 employees have accepted an early-retirement offer from the United States Postal Service, part of the agency's attempts to cut its workforce and costs, said a spokesperson for the American Postal Workers Union. The Postal Service finished fiscal 2012 with a $15.9 billion loss.
The Postal Service had a record loss of nearly $16 billion in fiscal 2012 compared to a loss of $5.1 billion in fiscal 2011, the agency said. The agency described $13.4 billion of its losses as "outside the control of the Postal Service in the short-term."