President-elect Donald Trump may privatise US Postal Service: Report
Amazon's founder Jeff Bezos is expected to meet the Republican leader next week.
United States President-elect Donald Trump is interested in privatising the US Postal Service, which has lost $100 billion since 2007, the Washington Post reported on Saturday (Dec 14).
The organisation reported a net loss of $9.5 billion at the end of its fiscal year on September 30. This fiscal year's loss was $3 billion more than the last one.
The Post further reported that when Trump was told about the organisation's annual losses, he said the government should not subsidise it. The Republican discussed his interest in privatising the organisation with his commerce secretary pick Howard Lutnick.
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The report further highlighted that people who had chosen to work at the Department of Government Efficiency (DOGE), under the leadership of Elon Musk and Vivek Ramaswamy, also had conversations about major changes in the USPS.
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A USPS spokesperson told news agency Reuters that for more than three years, the organisation has reduced its operation by 45 million work hours.
The agency is also seeking regulatory approval to modernise its mail processing and transportation network to align with modern practices, which will save between $3.6-$3.7 billion annually, Reuters reported.
Any attempt at privatising the Postal Service could disrupt the e-commerce industry in the US, Washington Post said, including Amazon, which uses USPS for "last-mile" delivery between Amazon's fulfilment centres and customers.
This came following reports that Amazon is donating $1 million to Trump's inaugural fund. The company will also air the event on Prime Video, an Amazon spokesperson said on Thursday (Dec 12). The Wall Street Journal reported that Prime Video will be an in-kind donation worth another $1 million.
Amazon's founder Jeff Bezos is expected to meet the Republican leader next week, Trump said in his interview with CNBC on Thursday (Dec 12).
Trump has criticised the Washington Post (owned by Bezos) for its coverage during his first term in the White House.
(With inputs from agencies)
