"The U.S. Postal Service (USPS) lost $3.1 billion last quarter and is on track to lose $10 billion this year. America no longer needs it. At the very least, it should be made so small that it cannot be recognized and have an extremely narrow mission. In the quarter ended June 30, the USPS reported a loss of $3.1 billion on revenue of $18.8 billion."
"Over the past few decades, postal services have become increasingly less useful. Tens of millions of Americans use email instead of sending mail via First Class. Documents that were once delivered by hand are now typically emailed as attachments. Even promotions and catalogs are sent electronically. Many people get their bank statements and pay bills online. This means that among the primary reasons that the USPS existed for two centuries, many are gone."
USPS lost $3.1 billion in the quarter ended June 30 and is projected to lose $10 billion this year. The agency employed 533,000 career and 106,000 non-career workers in 2024 and operated 34,000 retail locations, including many in small towns. The USPS delivers mail six days a week. Email, electronic statements, and online billing have sharply reduced demand for First Class and hand-delivered documents. Many post offices and frequent deliveries create staffing and lease costs. The USPS should be significantly downsized and assigned a narrowly defined mission.
Read at 24/7 Wall St.
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