USPS pointed to pension costs and added work hours as the cause of its net loss, according to Multichannel Merchant.
"We achieved controllable income in excess of $1 billion for the second consecutive fiscal year, giving us some limited flexibility to make critical investments in the future of the organization," Postmaster General and USPS' CEO Megan J. Brennan told Multichannel Merchant. "To maintain this success, we will need to continue our efforts to grow the business and drive operational efficiencies. However, we will also need the enactment of legislation that makes our retiree health benefit system affordable and that provides increased pricing and product flexibility."
Brendan Menapace is the content director for Promo+Promo Marketing.