The Postal Service lost $2.8 billion in fiscal year (FY) 2008. This year, the Postal Service is concerned its loss could grow to $6 billion or more. Since the Postal Service is limited by law from borrowing more than $3 billion per year and the Postal Service started 2009 with only $1.4 billion cash on hand, there is a danger the Postal Service could face a liquidity problem as payroll and benefits alone are about $54 billion a year.
Non-career employees, or temporary workers who do not receive full employee benefits and privileges, make up a significant part of the U.S. Postal Service’s workforce – about 130,000 in fiscal year (FY) 2016. The USPS uses non-career employees throughout its operations.
However, turnover...Read More