USPS Adopts New Standards to Save Billions

The United States Postal Service has announced a new set of service standards aimed at cutting costs and saving at least $36 billion over the next decade. The agency, which has incurred significant financial losses, emphasizes the necessity of these measures to avoid a potential government bailout.

The United States Postal Service announced on Wednesday new service standards designed to save the struggling agency at least $36 billion over the next decade.

Since 2007, USPS has faced substantial financial difficulties, losing over $100 billion. For the fiscal year ending September, the agency reported a $9.5 billion loss.

Outgoing Postmaster General Louis DeJoy warned last November that without cost-cutting measures, USPS could require government intervention or even risk collapse.