USPS Faces $9.5B Loss in 2024, Warns of Potential Bailout Without Cost Cuts
The United States Postal Service (USPS) reported a $9.5 billion net loss for fiscal year 2024, with projections of continued losses in 2025, falling short of its break-even goal under a 10-year reform plan. Despite revenue growth and reduced controllable expenses, fixed costs like pensions and workers' compensation claims contribute significantly to the losses. USPS plans to increase revenue by expanding its package business and implementing cost-saving measures, while facing bipartisan pushback on network modernization. The agency is seeking congressional support to raise its borrowing limit and reassess pension contributions.
