Canada Post has put into effect this year’s postal rate increases, which sees standard lettermail/postcard increase two cents, from 57 cents to 59 cents for pieces up to 30 grams and up to $1.03 from $1.00 for pieces 30 to 50 grams. The increase came into effect on January 17.
Mail destined for the United States will go up three cents while International pieces will rise five cents to $1.75 (with a six cent increase for pieces between 30 and 50 grams to $2.50).
The Crown Corporation in July 2010 has issued $1 billion in long-term debt in order to enact postal transformation. The modernization plan is expected to generate $250 million in annual cost savings by 2017.
Canada Post employs 71,000 employees and operates 6,500 post offices. In 2009 the company delivered 11-billion pieces of mail to 15-million addresses, generating $7.3 billion in revenue. It has remained profitable for the last 15 consecutive years.