U.S. Postal Service delivers record loss of 15.9 billion
Officials blame loss on retiree benefits
Last Updated: 388 days ago
The Federal Agency delivered a record loss for the 2012 fiscal year of 15.9 billion dollars.
That's compared to a 5.1 billion loss the year before.
It happened despite what the postal service calls a year of record productivity and an 8-percent growth in the shipping and package business.
Officials blame the record loss on retiree health benefits.
They're planning to cut 150,000 workers and raise the price of first-class stamps.
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