Post Office Reports Loss Of $5 Billion For Year

USPS service delivery truck in a residential a...

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

WASHINGTON (AP) – The U.S. Postal Service said Friday it lost $5 billion over the past year, and postal officials again urged Congress to pass legislation to help the beleaguered agency solve its financial woes.

In a positive sign, the loss was a fraction of the record $15.9 billion the Postal Service reported losing last year. But it was still the agency’s seventh straight annual loss and came despite its first growth in revenue since 2008.

Operating revenue rose 1.2 percent to $66 billion, thanks to growth in the post office’s package delivery business and higher volume in standard mail. That was not enough to offset long-term losses in first class mail – the post office’s most profitable service – where revenues declined by 2.4 percent.

Read more at http://www.philly.com/philly/business/20131115_ap_bec035dfa75648f5a1f03a745ca1eb46.html#OcVHlq2UB7XQFb1U.99

Reading Postal Facility To Lose 162 Jobs

USPS service delivery truck in a residential a...

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

The U.S. Postal Service will close most operations in the Gus Yatron mail processing facility in north Reading by June 1 – and all of them by July 1 – transferring its work to a larger Harrisburg facility as part of a nationwide cost-cutting effort.

The move is expected to save $7.2 million a year, but it means the Yatron facility at 2100 N. 13th St. will lose 162 jobs.

However, the Harrisburg facility will add 87 jobs that many local employees will get.

The retail and bulk operations and their related services – such as post office boxes and counter service – will remain at the Yatron facility, Postal Service spokesman Ray V. Daiutolo Sr. said Thursday.

Read more:  http://readingeagle.com/article.aspx?id=464267