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The demand for its services has plummeted, and private couriers and 21st century delivery modes drones and delivery robots , for instance pose tough competition.
USPS likely will continue to lose money despite the efforts of its employees and leadership. Making the Postal Service viable for the 21st century will require a top-to-bottom rethink. Parcels priced at profitable rates may be a part of that new model, but more widespread, robust change is needed, lest taxpayers wish to find themselves bailing out the Postal Service. Kevin R. View the discussion thread.
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National Security. Agency Insider. Don't miss a brief. Postal Service lost money in six out of the 10 years from through , according to its financial reports. Though the Postal Service is bleeding money, it receives no tax dollars for operating expenses and relies on the sale of postage, products, and services to fund its operations.
The agency blamed the losses on the recession that began in December and significant declines in mail volume as a result of changes in the way Americans communicate in the age of the Internet.
The Postal Service was considering a host of cost-saving measures including the closure of as many as 3, facilities , the elimination of wasteful spending on travel, the end of Saturday mail and cutting delivery to just three days a week. The Postal Service carried billion-dollar surpluses for many years before the Internet became widely available to Americans. The Postal Service said it had made "significant cost reductions in areas within its control" by but claimed it needed Congress to approve several other measures to boost its financial outlook.
Those measures include eliminating mandated retiree health benefit pre-payments; forcing the federal government to return Civil Service Retirement System and Federal Employee Retirement System overpayments to the Postal Service and allowing the Postal Service to determine the frequency of mail delivery. Among other less-noticeable measures, the plan would raise prices, lengthen delivery timetables, and cut post office hours. On the other hand, the plan introduces new products to help commercial shippers move packages more efficiently.
The agency plans to open 45 package processing annexes nationwide to expedite shipping and will look to replace mail sorting machines with high-speed package sorters.
On May 28, , the U. Postal Service announced it had proposed the first increase in the price of a first-class stamp would increase since Jan. If approved by the Postal Regulatory Commission as expected, the price of a first-class stamp will jump from 55 cents to 58 cents effective August 29, Actively scan device characteristics for identification. Use precise geolocation data.
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