Chicago – December 16, 2024
U.S. President-elect Donald Trump has in recent weeks expressed a keen interest in privatizing the U.S. Postal Service, the Washington Post reported on Saturday, citing three people with knowledge of the matter.
The U.S. Postal Service, which has lost more than $100 billion since 2007, reported a net loss of $9.5 billion for its fiscal year ending Sept. 30, $3 billion more than last year, largely due to a year-over-year increase in non-cash workers’ compensation expense.
When told of the agency’s annual losses, Trump said the government should not subsidize the organization.
Trump, who takes office on Jan. 20, has discussed his desire to privatize the Postal Service with Howard Lutnick, his pick for commerce secretary, at Mar-a-Lago, the report said.
People who will work at the Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, have also had preliminary conversations about major changes to USPS, the report said, citing two other people familiar with the matter.
A USPS spokesperson said that over the last three years, the company has reduced its operations by 45 million work hours, and cut transportation spending by $2 billion.
