At the start of the pandemic, the Postal Service had $9.2 billion in cash, roughly two months of pay for its 630,000 workers. AD“Projections continue to show that a liquidity crisis is inevitable,” the Postal Service wrote in a presentation to lawmakers obtained by The Post. The Postal Service has defaulted on the payments intended to set up that account since 2011. The Postal Service said in a statement that it updated its financial forecast “to reflect our actual revenue and volume performance” during the pandemic. AD“It’s not an ugly story,” said Robert Fisher, a former Postal Service executive who studies postal performance analytics.

Source: Washington Post June 25, 2020 19:02 UTC