US Postal Service Has Halved Its Losses As It Becomes More Efficient

U.S. Postal Service Has Halved Its Losses As It Becomes More Efficient

(TheRedWire.com) – Things haven’t gone well for the US Postal Service (USPS) financially for several years. Rising costs associated with increasing pensions, compensation, and benefits, competitors, and increased use of technology for communications over traditional mail contributed to the perfect storm. The USPS is the only self-funded government agency, yet Congress governs how it operates. Despite its struggles, some good news could be emerging.

During the Trump administration, the postal service began getting rid of dated technology and means of processing mail. It initially resulted in slower delivery times, but that repercussion could be on the mend.

On Wednesday, November 10, Postmaster General Louis DeJoy reported the USPS cut its losses in half in 2021 over 2020 from $9.2 billion to $4.9 billion. DeJoy said the agency expects to experience significant improvements as they continue implementing their new processes and technologies, which they anticipate will create a 95% on-time service performance on mail and shipping.

In October, the postmaster General said the USPS was gearing up for the holiday season. It added 45 extra package handling facilities. It’s also hiring more seasonal workers and adding 100 package sorting machines.

It looks like this year could turn out much better than 2020 for the USPS holiday mail season.

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