Financial Losses Mounting For U.S. Postal Service

August 7, 2020 4:16 am

(AP) – Financial losses are mounting at the U.S. Postal Service during the coronavirus pandemic. The agency said Friday it lost $2.2 billion in the three months ending in June. Officials warn the losses could top $20 billion over two years. Postmaster General Louis DeJoy calls the agency’s financial position “dire.? DeJoy’s comments are his first public remarks since taking the top job in June. The Postal Service is seeking an infusion of at least $10 billion to cover operating losses as well as changes to how it funds retiree health benefits. Lawmakers are calling on the Postal Service to reverse operational changes that are causing delivery delays.