Search Tags:  Pat Donahoe

Post office posts $1.9 billion second quarter loss

The U.S. Postal Service said Friday it lost $1.9 billion over the last three months and warned that losses would continue to mount without help from Congress. The loss for the financial quarter ending March 31 was narrower than a $3.2 billion loss for the same period last year, thanks to slightly higher revenues and lower payments towards health benefits for workers who will retire in the future.

Tags: USPS , Joe Corbett

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Donahoe: Postal Service bailout looms if Congress doesn't act quickly

If Congress doesn't pass comprehensive postal reform legislation soon, it could find itself forced to bail out the financially troubled U.S. Postal Service to the tune of billions of dollars, said Postmaster General Pat Donahoe. The postmaster general said in a speech at the National Press Club he's optimistic Congress will pass postal reform legislation this year.

Tags: USPS , Congress , postal reform , Saturday delivery , Jack Moore

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Postal Service's 'broken business model' under fire but solutions scarce

Postmaster General Pat Donahoe told the House Oversight and Government Reform Committee Wednesday that the Postal Service is operating under a "broken business model." But cost-saving efforts, such as ending Saturday delivery and modifying a multibillion dollar requirement to prefund future retirees health care costs, garnered little agreement among lawmakers.

Tags: USPS , Congress , House , House Oversight and Government Reform Committee , Frederic Rolando , NALC , Gene Dodaro , Jack Moore

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USPS makes case for ending Saturday delivery as postal reform push continues

The U.S. Postal Service's worsening financial situation led Postmaster General Pat Donahoe to announce last week the agency would end Saturday mail delivery beginning in August. But lawmakers on the Senate Homeland Security and Governmental Affairs Committee were divided over Donahoe's announcement. The postmaster general told the committee during a hearing Wednesday the decision was necessary to save $2 billion a year and to begin shoring up the service's funding shortfalls.

Tags: Congress , House , Senate , budget , USPS , Saturday delivery , Mark Pryor , Tom Carper , Darrell Issa , Elijah Cummings , Tom Coburn , Senate Homeland Security and Governmental Affairs Committee

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Postal Service lost $1.3 billion over quarter

Tags: USPS , Joe Corbett

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USPS offers early outs to 3,300 workers

To avoid lay-offs, this week the mail agency offered early retirements to more than 3,300 employees who will retire Dec. 31, 2012.

Tags: USPS , workforce , budget , retirement , Jolie Lee

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USPS, unions extend contract deadline again

The U.S. Postal Service and the two major Postal unions have agreed to extend the deadline for negotiating a new labor contract until Dec. 16. It is now the second extension agreed to by USPS and the two unions — the National Association of Letter Carriers and the National Postal Mail Handlers Union. The initial deadline for labor negotiations was Nov. 20, which was then extended until midnight Wednesday.

Tags: USPS , NALC , NPMHU , Fred Rolando

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Donahoe says bills 'do not come close' to saving the USPS

None of the legislation moving through Congress would provide the Postal Service the speed and flexibility it needs to cut annual costs by $20 billion, Postmaster General Pat Donahoe said Monday. He said they would give USPS "a couple of years of profitability and at least many decades of steep losses." He argued for quicker resolution to the agency's cash crisis.

Tags: USPS , Congress , budget , Darrell Issa , Fred Rolando , National Association of Letter Carriers , Emily Kopp

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USPS tries to deliver services amidst losses

Tags: management , USPS , Ruben Gomez

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USPS warns of default on retiree benefits

Without action from Congress, the U.S. Postal Service will default on its obligations to future retirees' health care accounts. Next up are payments to employees and vendors, the postmaster general told Congress Tuesday.

Tags: Congress , pay and benefits , management , USPS , FERS , CSRS , Tom Carper , Susan Collins , Mark Strong , National League of Postmasters , Jared Serbu

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