| News

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

U.S. Postal Service reports record loss of $15.9B for year

Email Newsletters

Click here to sign up for one of our email newsletters.

Daily Photo Galleries

By The Associated Press
Thursday, Nov. 15, 2012, 9:56 a.m.

WASHINGTON — The struggling U.S. Postal Service is reporting a record annual loss of $15.9 billion.

The financial losses for the fiscal year ending Sept. 30 were nearly $11 billion more than the previous year.

The numbers cap a tumultuous financial year in which the post office was forced for the first time to default on more than $11 billion in payments to avert bankruptcy.

The mail agency for months has been urging Congress to pass an overhaul bill to let it trim letter delivery to five days a week and reduce annual payments for future retiree health care.

Postmaster General Patrick Donahoe says the large losses cannot be sustained.

The mail agency forecasts billions in additional losses next year as it awaits financial relief from Congress.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Stories

  1. Steelers are banking on linebackers to improve strength of defense
  2. LaBar: Looking at next big Diva star for WWE
  3. Motorcyclist killed in collision with car in Greenfield
  4. Medical personnel have plenty to do at Pittsburgh Marathon
  5. Newsmaker: Virginia Helterbran
  6. Eastbound lanes of turnpike reopened after crash near Irwin exit
  7. Facebook still hangs onto teen users but is losing some of its luster
  8. Southmoreland girls track team appears to be running on all cylinders
  9. Winning a tradition for Freeport track team
  10. Pitt coach Narduzzi goes home for induction into Youngstown coaches hall of fame
  11. Fire ruins 21 units in Wilkins highrise