The U.S. Postal Service is planning to raise postage rates and alter the way it delivers first-class mail as its leaders are looking to boost revenue following a challenging 2020, a report says.

The strategic plan, which Postmaster General Louis DeJoy is expected to unveil soon, comes after the agency lost $9.2 billion last year because of a decline in mail volume sparked by the coronavirus pandemic, according to The Washington Post.

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The newspaper reports that USPS is looking to eliminate a tier of first-class mail in which letters, bills and other envelope-sized items can be delivered to local addresses in two days. All first-class correspondence would instead be grouped into a slower, three-to-five-day window, it adds.

Two people familiar with the plan also told The Washington Post that first-class mail would no longer be shipped by plane, as the agency would utilize a network of trucks and distribution depots.

USPS reportedly spent more than $457 million on flying first-class mail in 2020, compared to $314 million shipping mail by truck.

The first-class mail changes would coincide with a push for postage hikes, the newspaper says, but DeJoy, in a statement to FOX Business, emphasized that the plan is not yet finalized and declined to provide any details. Read more at FOX Business