Although volume in all categories of mail declined in Q2 of FY 2008 (when compared to Q2 2007), USPS revenues continued to climb. Nonetheless, the agency posted a $707 million loss in the three months ending March 31. In a noteworthy change from the previous two quarters, over half of Q2’s revenue came from First Class Mail.
One consequence of recent quarterly losses has been a renewed effort to cut labor costs. The Postal Service has gradually thinned its workforce, particularly since 2002. This quarter, work-hours fell 2.2 percent, and postal employment dropped 2 percent. USPS now employs fewer workers than at any time since 1987.
Find Archived Articles: