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>> U.S. POSTAL SERVICE Latest News

MAY 10, 2013 - Yahoo! News

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U.S. Postal Service loses $1.9 billion in second quarter

By Elvina Nawaguna WASHINGTON (Reuters) - The U.S. Postal Service lost $1.9 billion in its second quarter, as the agency cut employees' work hours but struggled with an ongoing drop in mail volumes, the cash-strapped agency announced on Friday. The loss for the quarter ended March 31 was an improvement from the $3.2 billion loss during the same period in 2012, when the mail agency had to set aside twice as much for an annual retiree benefits payment. The independent government agency relies on sales of stamps and other products rather than taxpayer dollars to fund its operations. ...

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