While the ink on the deal hasn’t dried yet, more than 200,000 postal employees could see a series of pay raises down the road, now that one of the major postal unions has reached a provisional labor agreement with the U.S. Postal Service.
Despite double-digit growth in its package delivery during last year’s holiday season, the U.S. Postal Service posted a $200 million net loss for the first quarter of fiscal 2017.
A long-awaited bill to reform the U.S. Postal Service’s troubled finances could have the momentum it needs to make it to President Donald Trump’s desk after four major postal unions voiced their support for the legislation at a House Oversight and Government Reform Committee hearing on Tuesday.
The U.S. Postal Service, having faced years of financial hardship, posted a $5.6 billion net loss for fiscal 2016, despite an increase in revenue this year.
The Postal Service wants to set up its own health plan for workers and Senior Correspondent Mike Causey says non-postal workers should pay attention.
The U.S. Postal Service says it has “broad bipartisan support” from Congress to ease some its financial burdens. But until that time comes, USPS doesn’t have much room to improve the situation it’s in.
The U.S. Postal Service fared better this financial quarter than it did last year, but the Postmaster General says Congress has been slow to remove a weight around the agency’s neck.
The Postal Service’s latest financial results are no better than any of their recent numbers. But they might not be as bad as they look. Different interpretations of those numbers cause some leaders to think the Postal Service has a faster route back to profitability than Congress does. Fredric Rolando, president of the National Association of Letter Carriers, told In Depth with Francis Rose nobody argues about the numbers themselves. It’s more about how you read them.
Postmaster General Patrick Donahoe said the service can no longer afford to delivery first class mail six-days a week. He said cutting back by one day a week would save about $2 billion a year. USPS still would have a $14 billion deficit and needs help from Congress to address other fiscal challenges.
Half of those eligible for it don’t want to go into Senior Executive Service. Senior Correspondent Mike Causey says the issue isn’t money.