"DeJoy's plan to depart the USPS comes in the midst of a 10-year overhaul he has orchestrated — including higher postal rates, slower standard delivery and fewer post offices — to stem the Postal Service's financial hemorrhaging.
Under DeJoy's original plan introduced in 2021, the USPS targeted a turn to profit in fiscal 2024 but instead reported two consecutive years of increasing losses.
"The Postal Service in November reported its annual loss broadened to nearly $10 billion in the fiscal year ending Sept. 30, 2024, versus a loss of $6.5 billion the year earlier. The Postal Service cited billions spent on noncash contributions to worker compensation as behind its expanded pool of red ink."
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Under DeJoy's original plan introduced in 2021, the USPS targeted a turn to profit in fiscal 2024 but instead reported two consecutive years of increasing losses.
"The Postal Service in November reported its annual loss broadened to nearly $10 billion in the fiscal year ending Sept. 30, 2024, versus a loss of $6.5 billion the year earlier. The Postal Service cited billions spent on noncash contributions to worker compensation as behind its expanded pool of red ink."
USPS Postmaster General Louis DeJoy signals exit after nearly 5 years
The U.S. Postal Service announces that it will start the process of identifying a successor for the postmaster general.
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