OTTAWA– The chair of Canada Post’s board claims the corporate’s financial situation is unsustainable.
Andr é Hudon claims Canada Post goes to a “critical juncture” and appreciable modification is shortly required to take care of its distribution community.
Hudon acknowledged the rise in on-line shopping for all through the COVID-19 pandemic improved the parcel distribution market, and Canada Post is taking up “high-tech, low-cost operators who are rapidly and relentlessly evolving.”
Hudon made the remarks Wednesday at Canada Post’s yearly primary convention.
In August, Canada Post reported second-quarter revenues of $46 million gross as a single sale of subsidiaries aided counter a practical lack of $269 million.
That’s in comparison with a lack of $76 million gross within the very first quarter of the yr.
This report by The Canadian Press was very first releasedAug 28, 2024.
The Canadian Press
