Canada Post mulls changes to stem losses
Annual losses could reach $1B, officials say
Officials from Canada Post visited Regina to talk about potential service changes as a way to stem mounting financial losses.
According to the federal Crown corporation, mail delivery costs outstripped revenue by $104 million in the most recent quarter of its financial reporting. The postal service is projecting it could reach an annual shortfall of $1 billion, if changes are not made.
"Because of the declining mail volumes and if we don't make any changes today, we see by the year 2020 we would forecast that we would have a deficit of approximately one billion dollars per year," Canada Post's Mike Shearon said Thursday. "We don't want to go there. We don't want to be a burden on tax payers."
One change being considered is the introduction of community mailbox stands in all neighbourhoods, even those that had the traditional service to the door.
"It wouldn't bother me to walk two blocks to get my mail," Marcella Blais, who lives in an older Regina area, told CBC News Thursday. "But I can see an awful lot of people, disabled and the elderly, that might have a lot of problems with that."
Another notion being floated is to reduce the number of days mail is delivered.
The Canada Post officials said they believe the service is important to many, especially businesses and people who live in rural areas.
With files from CBC's Drew Fossum