Canada Post To Phase Out Urban Home Delivery Over Five Years

Canada Post will phase out home delivery in urban areas over the next five years as the postal service struggles to rein in persistent losses.

Under a five-year plan released on Wednesday, the cost of stamps will also rise and as many as 8,000 jobs will be eliminated.

But the agency says it will also open more retail locations across Canada.

The service faces a projected 1bn Canadian dollar ($943m; £576m) loss by 2020 without "fundamental changes".

(H/T Steve Jackson)

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