And for the full year, the world’s largest postal service is now projecting that it will cut its losses in half, to $7.6bn for the fiscal year 2013.
The struggling Postal Service has been teetering on the edge of liquidity over the past year, defaulting on $11bn worth of payments to the federal government in August and September. Planning on a $14bn loss for fiscal year 2012, USPS actually recorded a $15.9bn loss for the 12 months up to the end of September, including the payments it refused to make.