Posted on 11/18/2015 11:44:15 AM PST by Olog-hai
Despite an increase in revenue of $1.1 billion, the U.S. Postal Service reported a net loss of $5.1 billion for Fiscal Year 2015, which ended on September 30th. [...]
... "[C]ontrollable expenses" also increased $1.3 billion, from $66.4 billion in FY2014 to $67.7 billion in FY2015. That included a 21 million increase in workhours, even though total mail volume declined from 155.5 billion pieces in 2014 to 154.2 billion pieces in 2015.
USPS explained that the increase in operating expenses "was the result of a combination of factors, including higher compensation costs attributable to increased benefits expenses and additional work hours partly associated with growth in the more labor-intensive shipping and packaging business," which increased 14.1 percent during FY2015. ...
(Excerpt) Read more at cnsnews.com ...
This bloated albacores will be closed by president Trump.
Unions
Obamacare
I haven’t used a stamp in two years.
I suspect I’m not the only one.
Albacores? lol
I do my part and so do a lot of other people. My post office is always very crowded.
No where else (ok the DMV) do you have such a disdain for the customer.
If only I could convince some people I know to stop using them to send packages. They always arrive opened and/or crushed.
I wonder how much they would save by stopping Saturday mail delivery?
Wonder how much of that was for the TV ads featuring 90% minorities?
I live in Colorado and yesterday received a letter intended for a NJ address....sent from an NJ address...
No wonder they’re losing money....
At my office they can never seem to get the right mail into the right door slot at the right suite. Many times they have dropped very confidential items meant for lawyers and psychiatrists on totally different floors. One time they got our suite number right, but in a totally different building 1/2 mile away. I took the mail to them and it contained checks worth $52,000!
This is one thing that is in the Constitution. The problem with the Post Office is that they have to have every hire completely paid into the pension system for 80 years of their life. Now of course they are going through hell now but actually they will be the last ones standing when everyone else’s pension, 401K and other retirements are dead. The Postal Workers will be the only ones living. Still it is quite a strain on the Post Office. I notice that my Amazon packages are coming through the Post Office which I think is new. It used to be UPS. The Post Office are still getting my packages to me in a timely manner.
Stop it. The USPS is FIN-ished.
I have experienced the same ..although my post office front staff is great. I had a maniac go off shouting in the line because he said I was taking too long.
No kidding.
And yes, I was worried he might get out a gun and start shooting up the place.
Congress required them to OVERCOMMIT money to pensions, which is what put them in the red in the first place.... If they were allowed to contribute as they were before this insanity they would be in the black.... Blame the chiefs not the indians.
Totally agree. I think it was the Republicans would passed the law. However, I still think it will benefit the Post Office in the future. While other agencies will be struggling with lower budget and larger retirement either through pension or 401, the Post Office will be free of that.
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