USPS Eyes 9 Billion-Piece Mail Volume Decline

The U.S. Postal Service said it expects to end the current fiscal year with a volume decline of nine billion pieces.

At a USPS Board of Governors meeting Wednesday, the USPS said it would release its end-of-year financial results in November.

At the meeting, Postmaster General John Potter said the magnitude of the loss in mail requires the USPS to take steps now to shore up its business, which it is doing by reducing work hours.

In addition, the BOG approved asking Congress $144.6 million for fiscal year 2010.. This annual request includes $115.6 million in reimbursement for free services the postal service is required to provide, including free mail for blind persons and for overseas voting.

The board also approved funding for the next phase of a letter recognition improvement program that further automates mail operations by combining information from commercially available name and address databases to match and resolve address conflicts, according to the USPS.