The U.S. Postal Service's (USPS) financial condition has worsened this year, with the recession and changing mail use causing declines in mail volume and revenues despite postal rate increases. The USPS expects these declines to lead to a record net loss and an unprecedented cash shortfall even if ambitious cost cutting is achieved. Delivery accounts for nearly half of USPS salary and benefit costs. This testimony: (1) updates USPS's financial condition and outlook; and (2) discusses the need for USPS to restructure its mail processing, retail, and delivery networks and its efforts to improve their efficiency. Charts and tables.Further, it has high overhead (institutional) costs that are hard to change in the short term, such as providing universal service that includes 6-day delivery and maintaining a network of 37, 000 post offices and retail facilities, as well as aanbsp;...
|Title||:||U. S. Postal Service: Broad Restructuring Needed to Address Deteriorating Finances|
|Publisher||:||DIANE Publishing - 2010-01|