The U.S. Postal Service filed its 2009 fiscal year-end financial results, showing a net loss of $3.8 billion for the year - despite cost-cutting efforts resulting in $6 billion in cost savings and a $4 billion reduction in required payments for retiree health benefits.

The 2010 plan, which estimates a revenue decline of $2.2 billion, a net loss of $7.8 billion, cost reductions of more than $3.5 billion and a reduction in mail volume of 11 billion pieces for the year, is based on the assumption that there will be no change in the number of delivery days per week, and no change in the current retiree health benefits payment schedule.

"Our 2009 fiscal year proved to be one of the most challenging in the history of the Postal Service," said Chief Financial Officer Joseph Corbett. "The deep economic recession, and to a lesser extent the ongoing migration of mail to electronic alternatives, significantly affected all mail products, creating a large imbalance between revenues and costs."