Canada Post Taking Drastic Measures to Save Money

Urban mail delivery in Canada will be a thing of the past.

Today Canada Post announced that it will doing away with door-to-door delivery of regular mail to urban residents and increasing the price of stamps as a way to save money.

Starting March 31st, the cost of a stamp will increase to 85 cents each if purchased in a pack, up from 63 cents. Individual stamps will cost a dollar.

Canada Post said that over the next five years, it will eliminate 6,000 to 8,000 positions, but it expects 15,000 workers will leave the company or retire within that period.