USPS Seeks Revenue Boost Amid Cash Crunch Concerns

The U.S. Postal Service aims to increase revenue from its 'last-mile' delivery network to avert a financial crisis expected by 2027. Postmaster General David Steiner calls for major retailers like Amazon to participate, emphasizing the need for legislative reforms following significant losses.

The U.S. Postal Service (USPS) is urgently seeking to enhance its revenue through its 'last-mile' delivery network. This strategy targets partnerships with major retailers and shippers to mitigate an imminent cash shortfall projected for 2027, according to Postmaster General David Steiner.

Steiner, in conversation with Reuters, expressed hopes that Amazon and other industry leaders would engage in the bidding process. This initiative aims to open USPS's 18,000 delivery destination units to a wider customer base, potentially adding billions in revenue.

USPS, delivering to over 170 million U.S. addresses, faces financial pressure with costly last-mile deliveries. Steiner, addressing a $9 billion loss, stressed the need for administrative and legislative reforms to sustain USPS operations beyond the estimated depletion of funds by early 2027.

(With inputs from agencies.)