Podcasts Government Federal Drive with Tom Temin USPS wont break even in FY 2024 as expected in its 10-year reform plan

USPS wont break even in FY 2024 as expected in its 10-year reform plan

Published: Nov. 15, 2023, 2:03 p.m.

b'The Postal Service, citing higher costs beyond its control, is falling behind on plans to reach long-term financial stability.\\nUSPS on Tuesday reported a $6.5 billion net loss for fiscal 2023.\\nUnder its 10-year USPS Delivering for America (DFA) plan, the agency expected it could \\u201cbreak even,\\u201d and start to dig out from years of billion-dollar net losses by this point.\\nThose financial challenges are expected to continue for the rest of this fiscal year. Postmaster General Louis DeJoy said USPS \\u201cwill not reach break-even results in 2024.\\u201d USPS estimates it will end FY 2024 with a $6.3 billion net loss.\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'