Sadly, I won’t have a mailbox at the side of my house anymore, since Canada Post has decided to build a community lockbox to cut costs. The price of stamps is outrageous! It’s now $2.50 to send an international postcard! I believe oversized cards and envelopes costs $5.00! Crazy.
Canada Post published on Monday its annual report for last year, revealing a relatively small loss of $29 million (given that it had more than $7.5 billion in revenue).
But it continues to bleed money- 2013 was the third year in a row Canada Post has been in the red.
The problem of course is that letter volumes are falling—down 30 per cent from 2007—while its costs have generally remained fixed.
The loss would have been far worse were it not for the mail delivery service selling off real estate such as a processing centre in downtown Vancouver.
Here’s a breakdown of what Canada Post, which remains obligated under law to deliver to every address, says are the costs to deliver the mail by each method:
And here’s how…
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