Canada Post to Phase Out Home Delivery, Raise Postage

OTTAWA—Canada Post has unveiled a five-point action plan designed to help the agency save as much as C$900 million per year and regain financial stability by 2019. As part of the plan, home delivery will be phased out and the cost of postage stamps will increase at least 35 percent.

The overall plan will result in the reduction of between 6,000 and 8,000 positions, mainly through attrition, Canada Post said in a release.