Foundering USPS Absorbs Punishing Q2 Loss

WASHINGTON, DC—The U.S. Postal Service (USPS) ended its second quarter (Jan. 1–March 31, 2012) with a net loss of $3.2 billion, compared to a net loss of $2.2 billion for the same period last year. Despite ongoing management actions that USPS believes have grown and improved efficiency, the Postal Service feels the losses will continue until key provisions of its five-year business plan move forward.