The United States Postal Service reported a $2 billion net loss as mail volumes fell 6.3%. Total losses since 2007 reached $120 billion as first-class mail volume hit its lowest level since the late 1960s. The service warns it may run out of cash by February without Congressional action to expand borrowing authority.
US Postal Service Reports $2 Billion Loss Amid Cash Crisis
The USPS reported a $2 billion quarterly loss and warned of a cash shortage. It is suspending pension payments and raising stamp prices to conserve funds.
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