Postal Service’s $15.9-Billion Loss Highlights Urgent Need for Legislative Reform

“Our productivity grew to a record level as we captured cost savings and improved productivity for the 13th straight quarter,” said Chief Financial Officer Joseph Corbett.

This year’s improvement is largely attributable to the reduction in work hours, which decreased by 27 million, or 2.3 percent, in 2012 vs. the previous year. Total work hours continue to decrease despite increases in the number of delivery points, which rose by approximately 1.3 million over the last two years.