In 2020, USPS lost $9.2 billion. due to the Coronavirus pandemic
“It is our path to financial sustainability and service excellence,” DeJoy said during a Tuesday press conference, adding that he believes the federal entity can be completely financially sufficient, but there is “growing concern” about its sustainability.
The plan aims to “erase” the service’s $160 billion debt will include eliminating its prefunded retiree health benefits mandate by combining the requirement with Medicare, the postmaster general said.
It will also likely result in longer waiting times for first-class mail delivery, higher postage prices and reduced service hours due to reduced delivery steps.
Chief Retail and Delivery Officer Kristin Seaver explained on Tuesday, however, that only 70% of first-class mail would be affected by longer wait times while the majority of all other shipping options will be delivered on time after implementation.
Keep reading at Fox Business.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.