U.S. Postal Service Loss Swells To $1.9 Billion In Second Quarter

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U.S. Postal Service Loss Swells To $1.9 Billion In Second Quarter

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U.S. Postal Service Loss Swells To $1.9 Billion In Second Quarter

by Wochit 0:48 mins

U.S. Postal Service Loss Swells To $1.9 Billion In Second Quarter

by Wochit 0:48 mins

The United States Postal Service ended its second quarter with a net loss of $1.9 billion, as first-class mail volumes continued to tumble and the government was unable to provide relief. The agency said on Friday its net loss for the fiscal second quarter ended March 31 surpassed the first-quarter's loss of $354 million, but it remained flat from the year-ago quarter. In the meantime, its shipping and packaging business remained a bright spot. The Postal Service is also still struggling under the weight of heavy mandatory payments into its future retirees' health fund, which was required by Congress in 2006.

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