Canada Post faces a $748M loss in 2023 due to declining letter mail and increased parcel competition, considering drastic measures for profitability.
Canada Post faces $748M loss in 2023, its second-worst year on record, amid a decline in letter mail and increased competition from parcel delivery services. Experts suggest drastic measures for potential routes to profitability, such as changing daily mail delivery to every other day, franchising postal outposts, and exploring alternative revenue streams. Amending legislation that mandates daily mail delivery and adjusting labor costs are also being considered.
May 24, 2024
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