Maybe not but GOOGLE is reading it!! (Worst email provider out there as far as privacy goes)
No, but their computers scan my email to serve ads, which are promptly dumped by AdBlock Plus Google employees aren't reading my email any more than your mail provider reads yours. -- ♬ Music is life ♬
Recently my ISP changed to Yahoo mail. There are several areas where they mention that they scan your email to gather statistics, etc. This is mentioned several times in their new TOS. I refused to switch so I purchased an email account with a firm that does not scan my email.