The United States Postal Service will raise the price of a First Class stamp to 73 cents today, marking an extraordinary series of increases due to financial struggles.
The Postal Service revenue slightly rose to $19.7 billion, but it still reported a loss of $1.5 billion. Postmaster General DeJoy aims to cut losses in a 10-year plan.
The Postal Service is considered bloated with over half a million career employees and numerous offices. There are concerns about the necessity of mail delivery six days a week.
Technological advancements have made many traditional postal services redundant, with email replacing letters, and private companies like FedEx and UPS providing more efficient overnight delivery.
#us-postal-service #financial-loss #technological-advancements #postal-service-operations #price-increase
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