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U.S. Postal Service Ends Fiscal Year With Smaller Loss Of $5 Billion

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November 15, 2013 AT 5:57 AM
The U.S. Postal Service ended its 2013 fiscal year with a loss of $5 billion, down from nearly $16 billion the prior year, the mail agency said. The service said it benefited from growth in its shipping and packages business, as well as aggressive cost-cutting measures that included a drastic reduction in employee work hours.