Postal Service Loses $200 Million in Year
The U.S. Postal Service finished its fiscal year with a loss of more than $200 million, emphasizing the need for higher rates expected to take effect next spring, Postmaster General Preston R. Tisch said Wednesday.
Although the final accounting has not been completed, preliminary results indicate that the agency ended fiscal 1987 between $200 million and $225 million in the red, Tisch said at a National Press Club breakfast.
Tisch said he is continuing to press postal managers to hold spending down but that he expects the service to face a loss of about $400 million in this fiscal year.
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