USPS faces cash crunch after $1.95B quarterly loss

The U.S. Postal Service on Friday, May 8, reported a net quarterly loss of $1.95 billion as it faces a growing financial crisis and has warned it could run out of cash as soon as February.

USPS said mail volumes continue to decline. Last month, the government agency said it would temporarily suspend employer payments for a ​federal pension program to conserve cash and plans to raise the price of first-class mail stamps to ‌82 cents from 78 cents effective July 12.

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