How The U.S. Postal Service Fell Into A Financial Blackhole

PUBLISHED: Fri, 09 Oct 2020 17:59:15 GMT


If the United States Postal Service was a private business, it would have ranked 44th on the 2019 Forbes 500 list. It also hires more than 600,000 employees, third to Amazon and Walmart. But it’s a public service. That means its goal isn’t to meet its bottom line, but to fulfill its duty to provide affordable and reliable mail service in the U.S. So how did USPS’s finances come into the spotlight and why is it in the red?

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx…

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.