US Postal Service 2009 Annual Report Download - page 10

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8 | 2009 Annual Report United States Postal Service
THE CHALLENGE
OF A CHANGING
ECONOMY
Through it all, we delivered on
our commitment to service
and affordability.
As the recession and cost obligations
challenged the Postal Service like never
before in our history, we responded
with a focused effort to operate more
effi ciently and effectively, and add new
value to the mail. We kept our focus
on providing the reliable, universal
service the American people expect
from their Postal Service.
Our customers trust us to deliver
for them — in any economy — and
we didn’t let them down.
Our fi nancial success depends on
the underlying soundness of the econ-
omy. Mail volume historically refl ects
the nation’s fi nancial health. As the
United States plunged into a deep re-
cession during the year, the effect on
mail volume was dramatic and un-
precedented — more than 25 billion
fewer pieces than the year before.
It wasn’t the recession alone that
created fi nancial obstacles for the
Postal Service. A statutory require-
ment to pre-fund health care benefi ts
for future retirees is an obligation
that no other government or private-
sector employer has. At the end of the
year, congressional action reduced
this payment from $5.4 billion to
$1.4 billion, helping reduce the year’s
fi nancial shortfall.
In responding to a changing mar-
ketplace and uncertain economy, we
aggressively worked to bring costs in
line with reduced revenue. We took
our efforts to unprecedented levels,
cutting spending by more than $6 bil-
lion. That’s a remarkable accomplish-
ment for any business or organization.
We also kept our eyes on the fu-
ture, implementing a growth strategy
based on pricing and product innova-
tions designed to make it easier for
customers to stay in the mail — and
help grow their businesses. Through
technology advances, we provided
customers with more information
about their mail than ever before,
adding value in terms of targeting
and effectiveness. And our employ-
ees pulled together to deliver on the
promise of our brand — excellent ser-
vice to every home and business.
Need stamps? If you can’t make it to your local Post
Offi ce, you can buy stamps at more than 36,000
supermarkets, drug stores and other retailers, and
20,000 ATMs.