U.S. Postal Service Records Loss of $354 Million in First Quarter, Underscoring Need for Comprehensive Legislation
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"We grew revenue by over $300 million through aggressive marketing and improving service, and we reduced operating costs by $574 million in Quarter 1, partially due to the separation of approximately 22,800 employees in 2013 under a Voluntary Early Retirement program and improved efficiency in our workforce," said Chief Financial Officer and Executive Vice President Joseph Corbett.
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