OTTAWA– The chair of Canada Post’s board claims the company’s economic scenario is unsustainable.
Andr é Hudon claims Canada Post goes to a “critical juncture” and considerable modification is quickly required to maintain its distribution network.
Hudon stated the rise in on-line buying throughout the COVID-19 pandemic improved the parcel distribution market, and Canada Post is taking on “high-tech, low-cost operators who are rapidly and relentlessly evolving.”
Hudon made the remarks Wednesday at Canada Post’s yearly basic conference.
In August, Canada Post reported second-quarter revenues of $46 million gross as a single sale of subsidiaries aided counter a functional loss of $269 million.
That’s compared to a loss of $76 million gross in the very first quarter of the year.
This record by The Canadian Press was very first releasedAug 28, 2024.
The Canadian Press
