USPS stops hiring new managers: Nearly illiquid business assures that it will provide Americans with absentee ballots despite losses
Postmaster General Louis DeJoy said the business model of the USPS is “broken” as the service has been unprofitable in the past 13 years and has already lost more than $ 80 billion.
"Without dramatic change, there is no end in sight and we face an impending liquidity crisis," DeJoy said.
On the eve of the upcoming US presidential elections, which are to be held by mail, are facing difficulties. The USPS previously requested $ 89 billion in financial assistance from the government, citing the pandemic.
US President Donald Trump refused to help the Postal Service, explaining that the upcoming vote by mail would not be considered legitimate. In addition, a losing company slows down the delivery of letters and parcels.
“USPS said quarterly revenue rose to $17.6 billion, up $547 million. The quarterly net loss shrank to $2.2 billion from $2.3 billion in the same quarter last year,” Reuters reports. “First-class mail volume declined by 1.1 billion pieces, or 8.4%. Shipping and packages revenue increased by $2.9 billion, or 53.6%, on a volume increase of 708 million pieces, up 49.9%.”
"We believe these changes, made during the middle of a once-in-a-century pandemic, now threaten the timely delivery of mail—including medicines for seniors, paychecks for workers, and absentee ballots for voters—that is essential to millions of Americans," wrote House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer.
Postmaster General Louis DeJoy rejects claims that mail is being delayed.
“We are not slowing down election mail or any other mail,” DeJoy said Friday at a USPS board meeting. “The notion that I would ever make decisions concerning the Postal Service at the direction of the president or anyone else is wholly off base.”