Canada Post outlined vast organizational changes Wednesday that could see as many as 8,000 jobs lost over the next five years.
The Crown corporation is hoping to save almost $1 billion a year with changes to home delivery, increased pricing on stamps and streamlining of its operations.
Labour savings are likely to play a big role in containing costs, with a significant cut to the number of letter carriers. Still, Canada Post suggests normal attrition will make up most of the reduction as employees voluntarily leave the organization.
The announcement comes on top of a range of high-profile factory closures and labour reductions from companies such as Sears, Potash Corp, Kellogg’s and Heinz.
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