US Postmaster General Louis DeJoy has asked the USPS governing board to identify his successor, amid growing financial concerns for the agency. DeJoy warned that if costs are not cut, the post office will face a government bailout or its demise.
The USPS is implementing a 10-year plan to eliminate predicted losses of $160bn over the next decade. However, new projections indicate the agency will face $80bn in losses during this period. To address this shortfall, further cuts are planned.
DeJoy has faced criticism from Congress regarding processing network consolidation plans. He recently defended the purchase of electric vehicles after receiving $3bn funding for their delivery in 2020.
First-class mail volume continues to decline, with a 3.6% year-over-year drop to 44.3bn pieces. Mail use has decreased by 80% since 1997 and is at its lowest level since 1968. No stamp price hike is planned for January for the first time in two years.
Source: https://www.theguardian.com/business/2025/feb/18/usps-postmaster-louis-dejoy-steps-down