Canada Post's board chair deems its financial situation unsustainable due to pandemic-driven online shopping competition.

Canada Post's financial situation is deemed unsustainable by its board chair, André Hudon, as the pandemic-induced surge in online shopping has intensified competition against high-tech, low-cost operators. The company, which has already taken measures to address these challenges, including pausing certain investments and reducing costs, requires more flexibility in its operations, investments, and regulatory standpoint to remain competitive in the fast-paced parcel delivery market. Canada Post's parcel delivery market share has been cut by half since 2019.

August 28, 2024
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