TULSA, Okla. (KTUL) — The United States Postal Service says the coronavirus pandemic may be its demise.
In a news release, USPS said this is a critical time for the life of the Postal Service. It says sales on postal products and services, which fund its operations, are plummeting due to COVID-19.
"The sudden drop in mail volumes, our most profitable revenue stream, is steep and may never fully recover," USPS said in the release. "We now estimate that the COVID-19 pandemic will increase the Postal Service’s net operating loss by more than $22 billion dollars over the next eighteen months, and by over $54 billion dollars over the longer term, threatening our ability to operate."
Postal Service employees accept, process, transport, and deliver vital mail and packages like medicine, products that sustain us, benefits checks, and important information, in every community, to every home.
USPS said it's imperative that Congress and the Administration help the Postal Service's finances as it plays an effective role in the nation's economic recovery.
"We are grateful for the heroism and commitment of our 630,000 postal employees who continue to serve the American public during this pandemic, and we look forward to working with policymakers on ensuring the solvency of the Postal Service,” the release said.