Postal Service Loses $2.2B in 3 Months as Virus Woes Persist
The U.S. Postal Service says it lost $2.2 billion in the three months that ended in June as the beleaguered agency, hit hard by the coronavirus pandemic, piles up financial losses that officials warn could top $20 billion over two years.”Our financial position is dire, stemming from substantial declines in mail volume, a broken business model and a management strategy that has not adequately addressed these issues,” Louis DeJoy, the new postmaster general, said Friday in his first public remarks since taking the job in June.”Without dramatic change, there is no end in sight,” DeJoy told the postal board ofmore
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