The U.S. Postal Service on Friday reported more than $8 billion in losses for the 2010 fiscal year while noting that mail volume continues to drop.
The postal service's chief financial officer, Joe Corbett, said despite $9 billion in cost savings over the past two years and the elimination of more than 100,000 jobs, fundamental changes are needed in how the mail system works.
"We will continue our relentless efforts to innovate and improve efficiency," he said. "However, the need for changes to legislation, regulations and labor contracts has never been more obvious."
Among the changes the Postal Service is seeking is the ability to cut Saturday mail delivery.
Now that's innovative......... doing less for more