"It’s critical that Congress do its part and pass comprehensive legislation before they adjourn this year to move the Postal Service further down the path toward financial health," Donahoe said in a statement. "We continue to do our part to grow revenue and reduce expenses by making our operations more efficient and by providing our customers with new and expanded services to meet their mailing and shipping needs. Additionally, through the expanded use of technology, including better use of digital tools and mobile technology, we are providing business mailers with new opportunities to connect with customers in a more individualized way."
Under Donahoe, the USPS has also been pushing for a shift from six to five-day delivery and requesting to be allowed to also offer non-postal products and services.
USPS CFO Joseph Corbett also touted the reduction in employee costs, noting FY 2012 total work hours fell by 27m or 2.3% from a year earlier. "These work hour reductions reflect our efforts to improve productivity and to respond to the decline in mail volume," he added. "Since 2000, we have reduced work hours by a cumulative total of 504m work hours, equivalent to 286,000 employees, or $21bn in expense savings each year."
The USPS reported that total mail volume was 159.9 billion pieces, which was off from the 168.3 billion pieces last year. Given that, operating revenue held steady, down only about $500 million to $65.2bn for the full year.
First-Class Mail revenue, which peaked in 2007 fell by 3.9% while Standard Mail decreased $747m or 4.3% compared to last year.
