USPS posts $1.9 billion loss

May 6, 2009 – 11:26 pm – No Comment

It’s looking more and more likely for that 5 day week delivery schedule for the United States Postal Service after it posted an almost $2 billion loss today.

The Postal Service says the majority of the loss is the result of what it calls an unprecedented decline in mail volume. It moved 43.8 billion pieces of mail last quarter, down nearly 15 percent from a year ago.

The Postal Service has now lost money for 10 of the last 11 quarters, and warns of a year-end cash shortfall of as much as $1.5 billion.

The proposed decrease in one day of work equals out to about 33,000 lay offs in 58 million saved hours without having to actually lay off any workers.

If the postal service is hemorrhaging money this badly, perhaps it is time to start a 5 day week. Today all I had in the mail was a postcard from the post office, so there are certainly days where the mail doesn’t have to run.