Canada Post's board chair declares financial unsustainability, citing pandemic-driven competition and 50% market share decline since 2019.
Canada Post's board chair, André Hudon, has declared the organization’s financial situation unsustainable, highlighting the urgent need for change to maintain its delivery network. The rise in online shopping during the pandemic has intensified competition with low-cost, high-tech delivery services, leading to a 50% decline in market share since 2019. To address these challenges, Canada Post is pausing investments, reducing costs, and seeking greater operational flexibility.
September 01, 2024
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