US postmaster to step down months after reporting billions in losses

US postmaster to step down months after reporting billions in losses
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US postmaster to step down months after reporting billions in losses
Author: Reuters
Published: Feb, 18 2025 16:59

Summary at a Glance

In November, DeJoy warned that the post office, which has lost more than $100bn since 2007, must continue to cut costs or will remain on the path to either a “government bailout or the end of this great organization as we know it”.

DeJoy in December defended USPS’s plan to buy a rising number of electric vehicles after Congress gave it $3bn after overseeing the delivery of tens of millions of ballots for last November’s presidential election.

The US postmaster general, Louis DeJoy, said on Tuesday he had asked the US Postal Service (USPS) governing board to identify his successor.

Louis DeJoy, who has headed US Postal Service since 2020, warned in November of potential ‘end of this organization’.

USPS in July raised the price of a first-class mail stamp to 73 cents from 68 cents and increased overall mailing services product prices by 7.8%.

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