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Latest Patrick Donahoe Items
Despite nearly $16 billion in annual losses announced by the U.S. Postal Service on Thursday, all but one of the top five executives for the nation's mail service had an overall compensation increase this year, records show.
The nearly bankrupt U.S. Postal Service is moving ahead with plans to close dozens of mail-processing centers, saying on Thursday it can no longer wait as Congress remains deadlocked over how to help.
The financially struggling U.S. Postal Service sought Wednesday to tamp down concern over wide-scale cuts, revealing it will seek to keep thousands of rural post offices open with shorter hours.
Facing bankruptcy, the U.S. Postal Service is pushing ahead with unprecedented cuts to first-class mail next spring that will slow delivery and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day.
The U.S. Postal Service on Tuesday reported a $5.1 billion annual loss, but the figure would have been more than twice as high if Congress had not postponed a $5.5 billion bill to fund retiree health benefits.
Despite the U.S. Postal Service's string of multibillion-dollar deficits and plans to shed more than 100,000 jobs, people are still lining up for a chance to work at the nation's mail service.
Despite being mired in the worst financial crisis in its history, the U.S. Postal Service has no plans to cut back on any of the bioterrorism preparedness measures that began in the wake of anthrax attacks through the U.S. mail system 10 years ago this month.
Postmaster General Patrick Donahoe warned that the U.S. Postal Service is on "the brink of default" as he struggles to keep his agency solvent.
The U.S. Postal Service will default on billions of dollars in workers' compensation and retiree health payments and could have trouble making payroll without help from Congress, U.S. Postmaster General Patrick Donahoe warned the Senate on Tuesday.