Buffeted by the recession and the popularity of e-mail and electronic bill payment, the Postal Service lost $2.4 billion from April through June, officials said Wednesday.
That brings the year's losses so far to $4.7 billion. And the Postal Service expects to be $7 billion in the red when the fiscal year ends Sept. 30.
"What has occurred in the economy is unprecedented and it has created a much greater challenge than we can respond to quickly," Postmaster General John Potter said in a briefing. "We're trying to navigate our way through a challenging period of time."
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