USPS Q3 Loss is $740 Million, Despite Efficiency Efforts

Corbett said current projections indicate that the Postal Service will continue to have low levels of liquidity for the remainder of this fiscal year, will be unable to make the required $5.6 billion retiree health benefits prefunding payment due by September 30 and will continue to have no ability to borrow additional funds at that date. This cash position will continue to worsen in October when the Postal Service is required to make its annual payment of approximately $1.4 billion to the Department of Labor for workers’ compensation.