Latest news with #DeJoy
Yahoo
09-05-2025
- Business
- Yahoo
FedEx board member David Steiner to lead US Postal Service
David Steiner, a member of the FedEx board of directors, has been appointed as the next postmaster general and CEO of the United States Postal Service, the letter carrier's board of governors announced Friday. Steiner is set to replace former Postmaster General Louis DeJoy, who resigned in March, and current acting Postmaster General Doug Tulino. 'Dave is the right person to lead the Postal Service at this time to ensure this magnificent and historic organization thrives into the future,' board Chair Amber McReynolds said in a press release. Steiner's appointment has already faced pushback given his ties to FedEx, a leading private competitor of USPS. Union leaders were quick to denounce Steiner, The Washington Post first reported Tuesday, arguing that his appointment further encourages the privatization of postal services. 'His selection isn't just a conflict of interest — it's an aggressive step toward handing America's mail system over to corporate interests,' Brian Renfroe, the president of the National Association of Letter Carriers, said in a statement. 'Private shippers have been waiting to get USPS out of parcel delivery for years.' Shortly before stepping down, DeJoy announced plans to eliminate 10,000 USPS jobs in March, and he also confirmed the agency is working alongside Elon Musk and the Department of Government Efficiency. USPS is made up of roughly 650,000 employees. DeJoy, who assumed his post in June 2020, was met with animosity from both sides of the aisle during his tenure. Republican and Democratic lawmakers alike criticized him for not allowing them to visit USPS postal facilities. DeJoy also faced backlash from Democrats in response to his handling of postal services during the height of Covid-19. Now, Steiner is set to assume the position amid growing uncertainty within the agency. 'I deeply admire the public service and business mission of this amazing institution, and I believe strongly in maintaining its role as an independent establishment of the executive branch,' Steiner said in a press release. 'As the entity with the largest union membership in the United States, I look forward to engaging with the unions and management associations to ensure that together we create a world-class employment experience.' Steiner previously served as CEO of Waste Management and was a partner at law firm Phelps Dunbar. Pending background and ethics checks, Steiner will join USPS in July. Steiner was selected by the USPS' board of governors, who are presidentially appointed. President Donald Trump has floated privatizing the Postal Service — or merging it with the Commerce Department — in the past. The Washington Post reported that the board of governors had selected finalists, and Trump made the final call on the next postmaster general.
Politico
09-05-2025
- Business
- Politico
FedEx board member David Steiner to lead US Postal Service
David Steiner, a member of the FedEx board of directors, has been appointed as the next postmaster general and CEO of the United States Postal Service, the letter carrier's board of governors announced Friday. Steiner is set to replace former Postmaster General Louis DeJoy, who resigned in March, and current acting Postmaster General Doug Tulino. 'Dave is the right person to lead the Postal Service at this time to ensure this magnificent and historic organization thrives into the future,' board Chair Amber McReynolds said in a press release. Steiner's appointment has already faced pushback given his ties to FedEx, a leading private competitor of USPS. Union leaders were quick to denounce Steiner, The Washington Post first reported Tuesday, arguing that his appointment further encourages the privatization of postal services. 'His selection isn't just a conflict of interest — it's an aggressive step toward handing America's mail system over to corporate interests,' Brian Renfroe, the president of the National Association of Letter Carriers, said in a statement. 'Private shippers have been waiting to get USPS out of parcel delivery for years.' Shortly before stepping down, DeJoy announced plans to eliminate 10,000 USPS jobs in March, and he also confirmed the agency is working alongside Elon Musk and the Department of Government Efficiency. USPS is made up of roughly 650,000 employees. DeJoy, who assumed his post in June 2020, was met with animosity from both sides of the aisle during his tenure. Republican and Democratic lawmakers alike criticized him for not allowing them to visit USPS postal facilities. DeJoy also faced backlash from Democrats in response to his handling of postal services during the height of Covid-19. Now, Steiner is set to assume the position amid growing uncertainty within the agency. 'I deeply admire the public service and business mission of this amazing institution, and I believe strongly in maintaining its role as an independent establishment of the executive branch,' Steiner said in a press release. 'As the entity with the largest union membership in the United States, I look forward to engaging with the unions and management associations to ensure that together we create a world-class employment experience.' Steiner previously served as CEO of Waste Management and was a partner at law firm Phelps Dunbar. Pending background and ethics checks, Steiner will join USPS in July. Steiner was selected by the USPS' board of governors, who are presidentially appointed. President Donald Trump has floated privatizing the Postal Service — or merging it with the Commerce Department — in the past. The Washington Post reported that the board of governors had selected finalists, and Trump made the final call on the next postmaster general.
Yahoo
09-05-2025
- Business
- Yahoo
FedEx board member tapped to lead U.S. Postal Service
By David Shepardson WASHINGTON (Reuters) -The U.S. Postal Service Board on Friday said it named David Steiner, a FedEx board member and former CEO of Waste Management, as the new postmaster general after the White House pressured the prior leader to resign in March. Postal unions have raised sharp concerns about Steiner's selection to succeed Postmaster General Louis DeJoy because he sits on the board of a competitor to the Postal Service. The Postal Service reported a wider net loss of $3.3 billion for the three months ending March 31 as it continues to hike stamp prices and seek ways to cut costs. "I believe strongly in maintaining its role as an independent establishment of the executive branch," Steiner said in a statement released Friday. The board said it expects him to start in July, and that he will leave the Board at FedEx. USPS said on Friday its controllable loss was $848 million, up from $317 million in the same quarter last year as mail volume continued to fall. In February, President Donald Trump called the agency a "tremendous loser for this country" and has said is considering merging the Postal Service with the U.S. Commerce Department. Democratic lawmakers have said such a move would violate federal law. The White House did not immediately comment Friday. American Postal Workers Union President Mark Dimondstein told Reuters this week that Steiner was the wrong choice. "You don't put the fox in charge of guarding the hen house," Dimondstein said, adding it was "an abdication of their duty to remain independent of this administration." FedEx Executive Chairman Fred Smith praised Steiner's selection. "David's sharp business acumen will be key to addressing the significant challenges facing the United States Postal Service," Smith said, noting USPS has lost more than $108 billion since 2007. "The USPS must be reformed to improve service, to no longer rely on taxpayers to subsidize its operations, and to be held accountable to the same rules as private sector companies." Democratic lawmakers for years called for DeJoy to be fired but agreed to give USPS $50 billion in financial relief in 2022. DeJoy led an effort to dramatically restructure USPS over the last five years, including cutting forecast cumulative losses over a decade to $80 billion from $160 billion even as mail volumes fell to the lowest level since 1968.
Yahoo
09-05-2025
- Business
- Yahoo
FedEx board member tapped to lead U.S. Postal Service
By David Shepardson WASHINGTON (Reuters) -The U.S. Postal Service Board on Friday said it named David Steiner, a FedEx board member and former CEO of Waste Management, as the new postmaster general after the White House pressured the prior leader to resign in March. Postal unions have raised sharp concerns about Steiner's selection to succeed Postmaster General Louis DeJoy because he sits on the board of a competitor to the Postal Service. The Postal Service reported a wider net loss of $3.3 billion for the three months ending March 31 as it continues to hike stamp prices and seek ways to cut costs. "I believe strongly in maintaining its role as an independent establishment of the executive branch," Steiner said in a statement released Friday. The board said it expects him to start in July, and that he will leave the Board at FedEx. USPS said on Friday its controllable loss was $848 million, up from $317 million in the same quarter last year as mail volume continued to fall. In February, President Donald Trump called the agency a "tremendous loser for this country" and has said is considering merging the Postal Service with the U.S. Commerce Department. Democratic lawmakers have said such a move would violate federal law. The White House did not immediately comment Friday. American Postal Workers Union President Mark Dimondstein told Reuters this week that Steiner was the wrong choice. "You don't put the fox in charge of guarding the hen house," Dimondstein said, adding it was "an abdication of their duty to remain independent of this administration." FedEx Executive Chairman Fred Smith praised Steiner's selection. "David's sharp business acumen will be key to addressing the significant challenges facing the United States Postal Service," Smith said, noting USPS has lost more than $108 billion since 2007. "The USPS must be reformed to improve service, to no longer rely on taxpayers to subsidize its operations, and to be held accountable to the same rules as private sector companies." Democratic lawmakers for years called for DeJoy to be fired but agreed to give USPS $50 billion in financial relief in 2022. DeJoy led an effort to dramatically restructure USPS over the last five years, including cutting forecast cumulative losses over a decade to $80 billion from $160 billion even as mail volumes fell to the lowest level since 1968.
Yahoo
07-05-2025
- Business
- Yahoo
UPS and the post office are both slashing staff
Photo: Justin Sullivan (Getty Images) Consumers using 'snail mail' will have about 30,000 fewer people handling their letters and packages this year. Both UPS (UPS) and the U.S. Postal Service (USPS) say this shouldn'taffect delivery times in any significant way. In its first-quarter earnings release last week, UPS announced it was reducing its global workforce by 4%, or 20,000 jobs, by June. That followed the March announcement by USPS that 10,000 workers would be phased out using a 'voluntary early retirement plan.' Both moves are accompanied by efficiency measures to streamline operations. With the aim of reducing $3.5 billion in costs, UPS will be closing 73 buildings, and 400 facilities will have increased automation. Earlier this year, outgoing Postmaster General Louis DeJoy had promised to work with Elon Musk's DOGE to cut costs. In 2021, USPS revealed a 10-year plan to overhaul operations, saying that it faced $200 billion in losses and even potential bankruptcy. DeJoy then oversaw a 20% reduction in the USPS workforce, for savings of $200 million, in what he himself acknowledges was called 'the Friday night massacre.' UPS announced in January that it was halving the amount of business it does with Amazon (AMZN). UPS CEO Carol Tomé said on an earnings call that, 'Amazon is our largest customer, but it's not our most profitable customer. Its margin is very dilutive to the U.S. domestic business.' UPS stock tumbled 15%, and has not yet recovered The Teamsters union, which represents more than 300,000 UPS workers, is protesting the job cuts, saying UPS can expect 'a hell of a fight' in a statement from president Sean M. O'Brien. An August 2023 agreement with the union, which led to higher wages, also promised 30,000 Teamster jobs would be created at UPS. The UPS earnings report was cagey about the impact of tariffs — particularly on Chinese-made products that comprise an estimated 70% of products shipped via Amazon. Eleven percent of UPS's international revenue is tied to Chinese deliveries. 'Given the current macro-economic uncertainty,' UPS said, 'the company is not providing any updates to its previously issued consolidated full-year outlook.' For the latest news, Facebook, Twitter and Instagram.
