WASHINGTON, Nov 10 (Reuters) – The head of the US Postal Service warned on Tuesday the agency will be forced to make significant cuts in retail post office locations and other reductions without action from Congress as it faces wider losses and an ongoing cash crisis.
USPS said for the 12 months ending Sept. 30 it had a net loss of $6.5 billion versus a net loss from the prior 12 months of $9 billion. “We will need to make drastic changes in the number of Post offices and marketing mail service levels, and we will need to look at other areas to generate the cash we need to meet our obligations to our employees and to the American public,” Postmaster General David Steiner said at a meeting.
(Reporting by David Shepardson)
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