SPRINGFIELD, Mass. – 11.17.14 – The current U.S. Postmaster General Patrick Donahoe will retire in February.  The agency’s Chief operating Officer Megan Brennan will be taking over as the first woman to head the Postal Service.

The U.S. Postal Service reported $569 million in revenue last year.  But an overall loss of 5.5. billion dollars.  The losses are a result of a $5.6 billion annual payment for future retiree health benefits.

The U.S. postal service has about 491,000 employees across the nation facing financial issues for several years, because fewer people are using their biggest moneymaker- first class mail- as the internet gains popularity.  Some of those losses have been offset by package deliveries.

The hope is that Brennan, will put the post office on firmer financial ground. Read more