Return To Sender? Coronavirus Pandemic Eviscerates US Post Office Revenues
Wochit Tech
2020-04-09
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The US postmaster general warns that falling revenues could mean the postal service could run out of cash by October.
In fact, Business Insider reports Postmaster General Megan J. Brennan said Thursday that mail volumes might not ever recover.
The US Postal Service expects a $13 billion decline in revenue. That's roughly 18% of the agency's annual budget.
The news comes in spite of the recent uptick in Amazon.com package deliveries, as a result of the coronavirus pandemic.
The sudden drop in mail volumes, our most profitable revenue stream, is steep and may never fully recover. US Postmaster General Megan J. Brennan
The post office is asking Congress for a $50 billion bailout as well as $25 billion in loans from the Treasury Department.
In fact, Business Insider reports Postmaster General Megan J. Brennan said Thursday that mail volumes might not ever recover.
The US Postal Service expects a $13 billion decline in revenue. That's roughly 18% of the agency's annual budget.
The news comes in spite of the recent uptick in Amazon.com package deliveries, as a result of the coronavirus pandemic.
The sudden drop in mail volumes, our most profitable revenue stream, is steep and may never fully recover. US Postmaster General Megan J. Brennan
The post office is asking Congress for a $50 billion bailout as well as $25 billion in loans from the Treasury Department.
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